Court : US Supreme Court
Decided on : Jan-01-1863
Mercer County v. Hacket - 68 U.S. 83 (1863) U.S. Supreme Court Mercer County v. Hacket, 68 U.S. 1 Wall. 83 83 (1863) Mercer County v. Hacket 68 U.S. (1 Wall.) 83 Syllabus 1. Where a county issues its bonds payable to bearer, and solemnly pledges the faith, credit and property of the county, under the authority of an act of assembly, referred to on the face of the bonds by date, for their payment, and those bonds pass bona fide into the hands of holders for value, the county is bound to pay them. It is no defense to the claim of such a holder that the act of assembly referred to on the face of the bonds authorized the county to issue the bonds only and subject to certain "restrictions, limitations, and conditions" which have not been formally complied with, nor that the bonds were sold at less than par, when the act authorizing their issue and referred to by date on the face of the instrument declared that they should "in no case" nor "under any pretense" be so sold. 2. Corpor...
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