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AM. EXPRESS CO. v. LOPEZ

72 Misc.2d 648 (1973)

American Express Company, Plaintiff, v. Manny Lopez et al., Defendants.

Civil Court of the City of New York, Trial Term, New York County.

January 9, 1973

Attorney(s) appearing for the Case

Thomas J. O'Connor for plaintiff. Covington, Grant, Howard, Hagood & Holland (Wilmer H. Gross of counsel), for defendant.

RICHARD S. LANE, J.

This matter has been submitted to me upon an agreed statement of facts presenting a single issue of law. Does the chairman of the board of directors of a corporation, who is not the chief executive officer, have implied or apparent authority to pledge the credit of the corporation by virtue of obtaining the issuance to himself of an American Express credit card in the name of the corporation.

Broadly stated the rule is that...

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