Coates v. Donnell
The Superior Court of New York City
On June 8, 1878, John J. Mastín, a member of the firm of John J. Mastín & Co., and also cashier of the Mastín Bank, a corporation doing business as a banking house at Kansas City, in the State of Missouri, drew at St. Louis four drafts on the defendants, amounting to §35,000, in the firm name of John J. Mastín & Co., and payable to the Mastín Bank, to raise money for the benefit of the Mastín Bank, which was in need of funds.
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On June 8, 1878, John J. Mastín, a member of the firm of John J. Mastín & Co., and also cashier of the Mastín Bank, a corporation doing business as a banking house at Kansas City, in the State of Missouri, drew at St. Louis four drafts on the defendants, amounting to §35,000, in the firm name of John J. Mastín & Co., and payable to the Mastín Bank, to raise money for the benefit of the Mastín Bank, which was in need of funds. The drafts were indorsed by Mastín, as cashier of the Mastín Bank, and deposited in St. Louis banks. The drafts were not at this time accepted by the defendants. The St.…
1Opinion of the Court
Henry E. Howland
Referee.—The fact that Mas tin, the cashier, made the agreement testified to by the defendant is not disputed. This was, in effect, that it they would accept the drafts the bank would keep a balance with them large enough to protect them, on which they should have a lien, and in case the bank got into trouble they should be notified and be at liberty to charge up the acceptances against the balance in their hands.
The plaintiff’s counsel have argued with great earnestness that in making such an agreement the cashier exceeded his powers, and that such an agreement is in…
2Cases cited52 opinions
- Southard v. . BennerNew York Court of Appeals · 1878
- Jordan v. . National Shoe and Leather BankNew York Court of Appeals · 1878
- Pitcher v. . HennesseyNew York Court of Appeals · 1872
- Seward v. Jackson ex dem. Van WyckCourt for the Trial of Impeachments and Correction of Errors · 1826
- Hale v. . Omaha National BankNew York Court of Appeals · 1872
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