Insurance Company v. Bruce,
105 U.S. 328 (1881)

Annotate this Case
  • Syllabus  | 
  • Case

U.S. Supreme Court

Insurance Company v. Bruce, 105 U.S. 328 (1881)

Insurance Company v. Bruce

105 U.S. 328


1. Where a city, having by statute authority to make an unconditional subscription to the stock of a railroad company, and to deliver its bonds in advance of the construction of the road, issued them, representing in effect by their recitals that they conformed to the statutory requirements, and that its liability thereon was complete, held that the bonds are valid in the hands of a bona fide holder for value, and that the city is estopped from showing that it had imposed certain conditions upon its liability, although the statute declares that in such an event the bonds should not be binding until such conditions were performed.

2. Town of Eagle v. Kohn, 84 Ill. 292, commented upon and distinguished.

The facts are stated in the opinion of the Court.

Disclaimer: Official Supreme Court case law is only found in the print version of the United States Reports. Justia case law is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.