For Your Data Starting Fourth Dimension Securities Society V. Dahl Representative Brief

First Securities Company v. Dahl instance brief summary
560 N.W.2d 327 (1997)

CASE SYNOPSIS

Plaintiff securities society sought review of a determination from the Iowa District Court for Scott County, which establish inwards favor of accused belongings owners inwards the company's declaratory judgment activity that requested the removal of a existent estate restriction.

CASE FACTS
The society platted a section inwards which the owners purchased lots. The society maintained ownership of a lot that was referred to every bit "Outlot A." There was a platted 52-foot easement for access to Outlot A. After the section homeowner's association filed an activity against the society in addition to the shareholder for the payment of a route assessment, the shareholder, inwards her capacity every bit secretary, signed an affidavit that restricted the usage of the easement to a item Lot twenty inwards club to settle the litigation. The society afterwards desired to apply the easement.

DISCUSSION

• The courtroom affirmed the district court's determination after reviewing the activity de novo pursuant to Iowa R. App. P. 4. 
• Either actual or apparent authorization past times the shareholder was all that was needed to bind the corporation to the assertions inwards the affidavit. 
• The affidavit's intent was clear that the usage of Outlot H5N1 was restricted for route purposes. 
• In construing a restrictive covenant, due regard was given for the purposes that were contemplated past times the parties, but the words were given their ordinary pregnant every bit was normally understood at the fourth dimension that the affidavit was executed.

CONCLUSION
The courtroom affirmed the district court's decision.


Recommended Supplements for Corporations in addition to Business Associations Law

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