78-105. Estoppel of company to deny corporate power. Any company which shall execute or guarantee any recognizance, stipulation, bond or undertaking under the provisions of this act shall be estopped in any such proceeding to enforce the liability which it shall have assumed to incur, to deny its corporate power to execute or guarantee any such instrument or assume such liability.

History: L. 1895, ch. 73, § 7; April 12; R.S. 1923, 78-105.