Ouderkirk v. Central National Bank
New York Court of Appeals
Appeal from, judgment of the General Term of the Supreme Court in the third judicial department, entered upon an order made March 16, 1889, which affirmed a judgment in favor of plaintiff entered upon a verdict. This action was brought to recover for the alleged conversion of certain United States bonds. The facts so far as material are sufficiently stated in the opinion.
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Appeal from, judgment of the General Term of the Supreme Court in the third judicial department, entered upon an order made March 16, 1889, which affirmed a judgment in favor of plaintiff entered upon a verdict. This action was brought to recover for the alleged conversion of certain United States bonds. The facts so far as material are sufficiently stated in the opinion. The cashier of a bank has no power to bind the bank by a contract to receive securities on deposit unless he is authorized so to do by the direction of the managers of the bank, or unless such authority may be implied from…
1Opinion of the Court
Buger, Oh. J.
Many of the questions involved in this case are authoritatively decided in the case of Pattison v. Syracuse Fational Bank (80 N. Y. 82). It is there held that national as well as state banks have authority to receive bonds and other securities, gratuitously and otherwise, for safe keeping and general banking purposes, from third persons, as a customary and usual incident of the business of banking, and that where the proof shows that the cashier has been accustomed, with the knowledge of the directors of the bank, to receive such deposits, it is a question of fact for the jury to…
2Cases cited6 opinions
- First Nat. Bank v. . Ocean Nat. BankNew York Court of Appeals · 1875
- Collins v. . BennettNew York Court of Appeals · 1871
- J. Russell Manufacturing Co. v. New Haven Steamboat Co.New York Court of Appeals · 1872
- Pattison v. . Syracuse National BankNew York Court of Appeals · 1880
- Cutting v. . MarlorNew York Court of Appeals · 1879
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3Cited by45 opinions
- Grace v. Sterling, Grace & Co.Appellate Division of the Supreme Court of the State of New York · 1968
- Roberts v. Stuyvesant Safe Deposit Co.New York Court of Appeals · 1890
- Fidelity & Guaranty Insurance Corp. v. BallonAppellate Division of the Supreme Court of the State of New York · 1952
- Sherwood v. Home Savings BankSupreme Court of Iowa · 1906
- Hunter v. Ricke Bros.Supreme Court of Iowa · 1905
40 more not listed; retrieve them via the Exa API.