Day v. Asheville Tobacco Bd. of Trade
| Decision Date | 20 April 1955 |
| Docket Number | No. 99,99 |
| Citation | 87 S.E.2d 18,242 N.C. 136 |
| Parties | C. T. DAY v. ASHEVILLE TOBACCO BOARD OF TRADE, a Corporation. |
| Court | North Carolina Supreme Court |
J. Y. Jordan, Jr., Raleigh, Albion Dunn, Greenville, for plaintiff-appellant.
Williams & Williams, Asheville, for defendant-appellee.
Is there error in the denial of plaintiff's prayer for injunctive relief? We hold there is not error.
Attention is directed to the case of Cooperative Warehouse, Inc., v. Lumberton Tobacco Board of Trade, Inc., N.C., 87 S.E.2d 25. While the particular method of allotting selling time in that case is not the same as here, the fundamental principles declared and applied there are determinative here.
In that case this Court in effect holds that the articles of association for the purposes expressed in the charter and bylaws of a tobacco board of trade, organized and existing under and by virtue of G.S. § 106-465, constitute a contract between it and its members, which imposes certain obligation on the members among themselves and with respect to the corporation, and that, hence, as a consequence of membership in the corporation for mutual benefit, each member is deemed to have consented to all reasonable rules and regulations pertaining to the business which have been properly determined and promulgated. This holding is applicable to case in hand. And plaintiff, as a member of the Asheville Tobacco Board of Trade, Inc., is deemed to have consented to all reasonable rules and regulations pertaining to the business of selling tobacco at auction on warehouse floors.
Also, in the Cooperative case, supra, this Court holds, in effect, that the authority granted to tobacco boards of trade, under and by virtue of the provisions of G.S. § 106-465, as amended, to make reasonable rules and regulations for the economical and efficient handling of the sale of leaf tobacco at auction on the warehouse floors in the towns and eities in North Carolina in which an auction market is situated, is sufficiently broad to include the authority to make reasonable rules and regulations in respect to 'allotment of sales time'. What is said there relative thereto is applicable here. Therefore, this Court now holds in the case in hand that the by-laws of the Asheville Tobacco Board of Trade, Inc., adopted at, and pursuant to the meeting on 2 October, 1954, are within the power and authority so vested in it.
True, the act, G.S. § 106-465, does not authorize the organization of...
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Asheville Tobacco Board of Trade, Inc. v. FTC
...appears fair and equitable. Indeed, it does not appear that there is any restraint of trade in the rule." Day v. Asheville Tobacco Board of Trade, 242 N.C. 136, 144, 87 S.E.2d 18, 24. During the 1954 season, despite the fact that Day's warehouse was blocked more often and for longer periods......
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Rogers v. Douglas Tobacco Board of Trade
...on the market. Respondents have not appealed from that finding." F.T.C.Docket 6262, at p. 3. The case of Day v. Asheville Tobacco Board of Trade, 242 N.C. 136, 87 S.E. 2d 18, involved a by-law strikingly similar to the by-law adopted by the Douglas Board of Trade. The selling time was allot......
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Eagles v. Harriss Sales Corporation
...a member of the Board the plaintiffs, of course, consented to be bound by its reasonable regulations. Day v. Asheville Tobacco Board of Trade, 242 N.C. 136, 87 S.E.2d 18 (1955). Concededly, the very nature of leaf tobacco demands regulation of its sale, as the North Carolina statute recogni......
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Fayette Tobacco Warehouse Co. v. Lexington Tobacco Bd. of Trade
...as in Cooperative Warehouse, Inc., v. Lumberton Tobacco Board of Trade, Inc., 242 N.C. 123, 87 S.E.2d 25, and Day v. Asheville Tobacco Board of Trade, 242 N.C. 136, 87 S.E.2d 18, wherein the board's right to regulate the allotment of selling time among its members was upheld. The common law......