Vail v. Arizona
207 U.S. 201 (1907)

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U.S. Supreme Court

Vail v. Arizona, 207 U.S. 201 (1907)

Vail v. Arizona

No. 67

Argued November 15, 1907

Decided December 2, 1907

207 U.S. 201

Syllabus

Stare decisis is a wholesome doctrine, and, while not of universal application, is especially applicable to decisions affirming the validity of securities authorized by statute. Such decisions should be regarded as conclusive even as to those not strictly parties, so as to prevent wrong to innocent holders who purchased in reliance thereon.

Where bonds of a county have been declared valid in a suit of which the county had knowledge, and was heard although not a party thereto, while the question may not be res judicata as against the county in a subsequent suit in which it is a party, under the doctrine of stare decisis, the question should no longer be considered an open one.

The decisions of this Court in Utter v. Franklin,172 U. S. 416, and Murphy v. Utter,186 U. S. 95, adhered to under the doctrine of stare decisis.

85 P. 652 affirmed.

The facts are stated in the opinion.

Page 207 U. S. 203

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