Guarantee Title & Trust Co. v. Viola State Bank

The opinion of the court was delivered by

Hopkins, J.:

The action was one to enforce liability for breach of an implied warranty of title to certain government bonds. A demurrer to plaintiff’s petition was sustained on the ground that the statute of limitations had run. The plaintiff appeals.

The facts are substantially these: Certain registered government bonds, which could not be transferred without indorsement, were deposited in the Viola State Bank for safe-keeping. The defendant’s cashier, without authority, placed assignments on the bonds, some in September and some in October, 1920, and…