Bank of Cal. v. Dunn (1884) · DecisionDepot

Bank of Cal. v. Dunn

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

California Supreme Court Oct 23, 1884 No. No. 9,476Published

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Holding. The court affirmed a judgment requiring the defendant to issue a warrant for interest due on a bond, finding no legal justification for withholding payment.

Issues

Whether the defendant is legally justified in withholding a warrant for interest due on a bond issued under the Act of April 4, 1864.

Disposition. Affirmed

Quotations verified verbatim against the opinion

“We are of opinion that none of the matters presented on behalf of defendant are sufficient to justify the withholding of the warrant.”

“The act above referred to pledged the faith of the State to the payment to the holder of the bonds mentioned therein of such interest as is involved in this action.”

Synopsis

Railroad Bonds—Interest Coupons—Liability of the State.—The bonds issued by the Central Pacific Railroad Company, under the Act of April 4, 1864, are valid, and the State is liable upon the interest coupons issued in accordance with the provisions of the act.

The Court. The Court below rendered judgment, that the defendant draw his warrant for the amount of an interest coupon on a bond issued under the Act of April 4, 1864. (Stat. 1863-4, p. 344.) We are of opinion that none of the matters presented on behalf of defendant are sufficient to justify the withholding of the warrant. The act above referred to pledged the faith of the State to the payment to the holder of the bonds mentioned therein of such interest as is involved in this action.

Judgment affirmed.

Bank of Cal. v. Dunn

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