Denver v. Home Savings Bank - 236 U.S. 101 (1915)
U.S. Supreme Court
Denver v. Home Savings Bank, 236 U.S. 101 (1915)
Denver v. Home Savings Bank
Argued January 15, 1915
Decided January 25, 1915
236 U.S. 101
No exception or bill of exception is necessary to open a question of law apparent on the record where the record shows no waiver of rights of plaintiffs in error. Nalle v. Oyster, 230 U. S. 165.
When a municipality is authorized to raise money by sale of bonds this Court will take it that the authority extends to putting the bonds in the form that would be necessary to obtain a purchaser, and this applies also to certificate of indebtedness.
There is no essential difference between bonds of a municipality and its certificates of indebtedness, and in this case held that the purchasers for value before maturity and in good faith of negotiable certificates of indebtedness of the City of Denver were entitled to recover, and the defense that the authority to issue certificates did not authorize making them negotiable could not be maintained.
200 F. 28 affirmed.
The facts, which involve the validity of certificates of indebtedness issued by the City and County of Denver in payment for voting machines, are stated in the opinion.