Farmers & Traders' Bank of Shelbyville v. Fidelity & Deposit Co. of Maryland
Court of Appeals of Kentucky
Case 60 — Action to Recover Money Wrongfully Paid APPEAL FROM SHELBY CIRCUIT COURT. Judgment for Plaintiff and Defendant Appeals. 1. Admitting that the note in controversy was signed by Cox as trustee, and was paid out of the trust funds, we insist that there can be no recovery by the surety of the bank, unless it be made to appear that there was collusion between the bank and the trustee to defraud the cestui que trust. 2. The petition is defective and bad on demurrer,…
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Case 60 — Action to Recover Money Wrongfully Paid APPEAL FROM SHELBY CIRCUIT COURT. Judgment for Plaintiff and Defendant Appeals. 1. Admitting that the note in controversy was signed by Cox as trustee, and was paid out of the trust funds, we insist that there can be no recovery by the surety of the bank, unless it be made to appear that there was collusion between the bank and the trustee to defraud the cestui que trust. 2. The petition is defective and bad on demurrer, because the plaintiff fails to allege that it had made a demand of defendant before the institution of the suit. Ashton v.…
1Opinion of the Court
Oppinion of the court ry
JUDGE PAYNTER
Affirming.
The Shelby County Trust Company was trustee for Ber* tie Amis Cox, and, under some family arrangement, it resigned, and he’r husband, W. Ewing Cox, was appointed and qualified as her trustee. The appellee, the Fidelity & Deposit Company of Maryland, became surety in his bond as- trustee; and, he having become a defaulter in the sum of over $4,000, it was compelled to discharge the ob ligations of its bond by the payment of the defaulted sum. Cox borrowed from the appellant $500, and executed hia *386note to the bank as trustee. Of the trust fund he…
2Cases cited3 opinions
- Allen v. RussellCourt of Appeals of Kentucky · 1879
- Owens v. Ballard County CourtCourt of Appeals of Kentucky · 1871
- Batchelor v. Planters' National BankCourt of Appeals of Kentucky · 1880
3Cited by20 opinions
- Louisville Trust Co. v. Royal Indemnity Co.Court of Appeals of Kentucky (pre-1976) · 1929
- Hall v. Windsor Savings BankSupreme Court of Vermont · 1923
- Mitchell v. First National BankCourt of Appeals of Kentucky · 1924
- United States Fidelity & Guaranty Co. v. Home Bank for SavingsWest Virginia Supreme Court · 1916
- Taylor v. Harris' AdministratorCourt of Appeals of Kentucky · 1915
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