146 Mo. App. 510 | Mo. Ct. App. | 1910
(after stating the facts). — As to the contention against the validity of the chattel mortgage and the pledge because of usury in the loans, suffice to say tiie evidence was not, in our opinion, conclusive one way or the other, Jjut raised issues of fact for the court to determine as trier of the facts.
The main controversy on the appeal relates to the exclusion of evidence proffered by the interpleader upon the question of the authority of Brooks as president of the Brooks Publishing Company, to execute the mortgage on its property, or to pledge its property to secure loans made in its behalf. And right here we may say there was evidence conducing to show both loans were
It is said as regards the validity of the mortgage in present dispute, it was conceded Brooks had never before executed a mortgage in behalf of the company, and therefore it follows he had been invested with no authority by usage to execute one. This is too narrow a view. If he had been accustomed to manage all the financial affairs of the company, borrow money and execute notes in its behalf, and secure the loans by assignments of property as collateral security, and the board knew of and discussed those doings and did not
The' declarations of law given by the court rather look in conflict with the rulings on the evidence, particularly the second one.
For the exclusion of the offered evidence, the judgment will be reversed and the cause -remanded.