Wallace v. Stone
Michigan Supreme Court
Appeal from Ingham; Person, J. Petition of Julia Wallace for an order requiring George W. Stone, as receiver of the Central Michigan Savings Bank, to pay the claim of petitioner in full, in preference to general creditors. From an order granting the petition, respondent appeals.
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Appeal from Ingham; Person, J. Petition of Julia Wallace for an order requiring George W. Stone, as receiver of the Central Michigan Savings Bank, to pay the claim of petitioner in full, in preference to general creditors. From an order granting the petition, respondent appeals. The opinion of the circuit judge, after stating the facts of the case, concluded as follows: “It is well settled in equity that a creditor shall have a lien upon the whole mass, when funds- held in (rust for him have been mingled by the trustee with the trustee’s, own funds. It is also well settled that, if a trustee…
1Opinion of the CourtMcGrath, C. J.
On the 26th day of January, 1893, Mrs. Glasier deposited with the defendant bank $261, and took a certificate of deposit for $65, and a cashier’s check for $196. On February 7, 1893, a bank at Oklahoma sent to, defendant bank a note and mortgage executed by Mrs. Glasier, and payable to Julia Wallace, of Oklahoma, with instructions to collect and remit the interest due, and any portion of the principal which the mortgagor might wish to pay. On February lá, 1893, Mrs. Glasier called at the bank, surrendered the certificate of deposit and’ the cashier's check and a tax receipt, and made-payment…
2Cases cited8 opinions
- Marine Bank v. Fulton BankSupreme Court of the United States · 1865
- The People v. . the City Bank of RochesterNew York Court of Appeals · 1884
- Libby v. HopkinsSupreme Court of the United States · 1881
- McLeod v. EvansWisconsin Supreme Court · 1886
- Peak v. EllicottSupreme Court of Kansas · 1883
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3Cited by15 opinions
- Board of Fire & Water Commissioners v. WilkinsonMichigan Supreme Court · 1899
- Hecker-Jones-Jewell Milling Co. v. Cosmopolitan Trust Co.Massachusetts Supreme Judicial Court · 1922
- Gillen v. Wakefield State BankMichigan Supreme Court · 1929
- Will v. Village of MendonMichigan Supreme Court · 1896
- Lusk Development & Improvement Co. v. GiintherWyoming Supreme Court · 1925
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