Mabry v. Waller

Prior to February 1, 1930, the Bank of Derma had been in existence and had failed. Mrs. C. S. Waller, as guardian of her minor children, had approximately $6,000 on deposit in that bank. A few days prior to the transaction here involved, the Bank of Derma was reorganized and chartered as the Bank of Derma. On February 1, 1930, Mrs. Waller desired to withdraw her money from the new bank. She and her attorney met and had a conference with C. Gr. Mabry and five others, composing the entire board of directors of the new bank. As a result of this conference the six directors executed their…