Trustees of Elon College v. Elon Banking & Trust Co.
Supreme Court of North Carolina
Appeal by plaintiff from Devin, J., 14 May, 1921, of AlaMANCe, at chambers. This action was brought to recover the value of certain bonds of the United States, known as Liberty Bonds, which were deposited with the defendant for the purpose of being exchanged for the new bonds to be issued in their stead under the Act of Congress. The exchange was effected by the defendant and the bonds received by it and deposited in its bank, which will hereinafter more fully appear.
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Appeal by plaintiff from Devin, J., 14 May, 1921, of AlaMANCe, at chambers. This action was brought to recover the value of certain bonds of the United States, known as Liberty Bonds, which were deposited with the defendant for the purpose of being exchanged for the new bonds to be issued in their stead under the Act of Congress. The exchange was effected by the defendant and the bonds received by it and deposited in its bank, which will hereinafter more fully appear. They were stolen by burglars. Hence this action for their loss. A more detailed account of the facts and incidents of the case…
1Opinion of the Court
Walee®, J.,
after stating the substantial facts: The plaintiffs’ counsel contended that, in the consideration of the questions presented herein, certain material facts, which they contend have .been admitted, should be kept in mind and control our decision. We will state, as briefly as possible, the grounds upon which these contentions are -laid, in discussing the prominent features of the case.
The bank solicited the business, and by reason of the bank’s offer the plaintiffs did forego other safe and convenient methods of transmitting the bonds. The bank held itself out as having safe means of…
2Cases cited11 opinions
- Marks v. Cotton Mills.Supreme Court of North Carolina · 1904
- Preston v. PratherSupreme Court of the United States · 1891
- Hanes v. ShapiroSupreme Court of North Carolina · 1915
- Commercial Bank v. BurgwynSupreme Court of North Carolina · 1892
- Boyden v. President of the BankSupreme Court of North Carolina · 1871
6 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Agricultural Ins. v. ConstantineOhio Supreme Court · 1944
- Hanes v. . ShapiroSupreme Court of North Carolina · 1915
- Miller's Mut. Fire Ins. Ass'n of Alton, Ill. v. ParkerSupreme Court of North Carolina · 1951
- Prettyman v. Hopkins Motor Co.West Virginia Supreme Court · 1954
- Millers Mutual Insurance Ass'n of Illinois v. Atkinson Motors, Inc.Supreme Court of North Carolina · 1954
13 more not listed; retrieve them via the Exa API.