CORPORATIONS-PURCHASE OF NOTES AND MORTGAGES AS "DOING BUSINESS"

Authors

Abstract

C was engaged in loaning money in Idaho. He sold many of the notes and mortgages which he thus received to the plaintiff, a foreign corporation. It was his practice, nevertheless, to collect the interest on these notes and remit it to the plaintiff. The actual sales of the notes and mortgages occurred in Chicago. In this manner the plaintiff acquired the note of the defendant, a resident of Idaho and his mortgage on Idaho land. The Idaho statute forbids a foreign corporation "doing business" in the State to sue in its courts without taking certain qualifying steps. The plaintiff, who had not taken these steps, brought this action to foreclose the mortgage. The lower court found as a matter of fact that the plaintiff was not loaning money in Idaho through C. Held, the suit was maintainable as the plaintiff was not "doing business" in the State. Continental Assurance Co. v. lhler, 53 Idaho 612, 26 Pac. (2d) 792 (1933).

Recommended Citation

CORPORATIONS-PURCHASE OF NOTES AND MORTGAGES AS "DOING BUSINESS", 33 Mich. L. Rev. 301 (1934).
Available at: https://repository.law.umich.edu/mlr/vol33/iss2/13