Redwine v. Gate City Loan & Building Ass'n

54 Ga. 474
CourtSupreme Court of Georgia
DecidedJanuary 15, 1875
StatusPublished
Cited by3 cases

This text of 54 Ga. 474 (Redwine v. Gate City Loan & Building Ass'n) is published on Counsel Stack Legal Research, covering Supreme Court of Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Redwine v. Gate City Loan & Building Ass'n, 54 Ga. 474 (Ga. 1875).

Opinion

McCay, Judge.

1. The petition for the charter, whilst it did not go into detail, did state, by the very name it asked to have, the substance of the business. But we think the petition and the order is to be taken together, and when botli show what the intent is, it is sticking in the bark to say that it is the petition alone that is to be looked to.

2. We do not care to go over the argument and authorities made and referred to in the case of Parker vs. Fulton Loan and Building Association, 46 Georgia, 166. We see no reason to change that decision, but are rather confirmed in our views by new investigation. Nor is there anything here to alter the rule. True, there is some evidence that Mr. Red wine’s sole object was to borrow money, and that Mr. Wallace knew this. But the whole case shows that Red-wine was not an original contractor with the association. He bought out and took the shares of one of the original members, and Mr. Wallace, though he was an agent of the company, was, in this transaction, the agent of the buyer and seller of the stock, and not acting as- the agent of the company. If the original stockholder’s contract was not usurious, but made for the real purposes of the charter, then it was not made illegal by his selling out to Redwine.

Judgment affirmed.

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Related

Rogers v. Toccoa Electric Power Co.
137 S.E. 272 (Supreme Court of Georgia, 1927)
Cook v. Equitable Building & Loan Ass'n
30 S.E. 911 (Supreme Court of Georgia, 1898)
Van Pelt v. Home Building & Loan Ass'n
4 S.E. 501 (Supreme Court of Georgia, 1887)

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Bluebook (online)
54 Ga. 474, Counsel Stack Legal Research, https://law.counselstack.com/opinion/redwine-v-gate-city-loan-building-assn-ga-1875.