
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 Excerpt:...the purpose was evident. He, as well as the association, was aware that unless the contractor or material men were paid the mortgage might not become a first lien on the Steinmetz property. What he undertook to do was to protect the association. If the money was not applied for the uses of Mrs. Steinmetz, then Building and l oan Association vs. Steinmetz et al. Mr. Castor failed to do that which was entrusted to him by the association, and the corporation should be held liable for his misappropriation of the fund. He was acting as the solicitor of the corporation when he undertook the disbursement of the money for its protection: Cunningham vs. Building Association, 6 Dist. Rep.,99. Whether the dues and interest received by Mr. Castor from Mrs. Steinmetz were payments to the association is not so clear. The association furnished a pass book to Mrs. Steinmetz. She says that she never had the custody of the book, and never read it; that she cbuld not read English. She was at the office of the association with Mr. Castor when the eight shares were purchsed, and when all necessary papers were signed. Mr. Castor retained the book. The means of knowledge how the dues and interest were to be paid were at her command. The book showed that the seretary was the person designated to receive them. Mr. Castor, while he received dues from Mrs. Steinmetz, did not pretend to receipt in the passbook for them. He carried the money to the secretary, and the latter entered the payments into the book. He did just what any person might do to accommodate another. There was no knowledge brought to the secretary that Mr. Castor pretended to act for the association in the receipt of these dues. He collected rents for numerous clients, and as a convenience to them he paid their dues....
Page Count:
88
Publication Date:
2012-05-14
ISBN-10:
1232291560
ISBN-13:
9781232291565
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