Holden v. Upton
Massachusetts Supreme Judicial Court
Bill in equity, filed January 8, 1880, by the receivers of the Reading Savings Bank, to restrain the defendant from prosecuting actions at law upon, and to compel the delivery to the plaintiffs of, certain promissory notes in the defendant’s possession. The answer, among other things, alleged carelessness and negligence on the part of the trustees of the bank in the performance of their duties.
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Bill in equity, filed January 8, 1880, by the receivers of the Reading Savings Bank, to restrain the defendant from prosecuting actions at law upon, and to compel the delivery to the plaintiffs of, certain promissory notes in the defendant’s possession. The answer, among other things, alleged carelessness and negligence on the part of the trustees of the bank in the performance of their duties. Hearing before W. Allen, J., who reported for the consideration of the full court the following case: It appeared that the notes in question were received by the bank for money borrowed of the bank,…
1Opinion of the CourtC. Allen, J.
The report finds that no authority was shown to have been given to the treasurer to sell or indorse the notes in controversy; that neither the trustees nor the committee of *179investment had any knowledge of the sale; and that the defendant produced no evidence to sustain the averments of the answer as to any negligence or carelessness on the part of the trustees, whereby the treasurer was permitted by them for a long space of time to deliver and indorse the notes belonging to the corporation, in behalf of the corporation, to innocent parties, and to transact the general business of the bank…
2Cases cited3 opinions
- Case v. BankSupreme Court of the United States · 1880
- National Pemberton Bank v. PorterMassachusetts Supreme Judicial Court · 1878
- Commonwealth v. Reading Savings BankMassachusetts Supreme Judicial Court · 1882
3Cited by10 opinions
- Bowditch v. New England Mutual Life InsuranceMassachusetts Supreme Judicial Court · 1886
- Schleifer v. Worcester North Savings InstitutionMassachusetts Supreme Judicial Court · 1940
- New England Mutual Life Insurance v. WingMassachusetts Supreme Judicial Court · 1906
- Commonwealth v. Reading Savings BankMassachusetts Supreme Judicial Court · 1884
- Franklin Savings Bank v. CochraneMassachusetts Supreme Judicial Court · 1903
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