In re Wright-Dana Hardware Co.
Court of Appeals for the Second Circuit
Appeal from the District Court of the United States for the Northern District of New York. In the matter of the Wright-Dana Hardware Company, bankrupt. From an order (207 Fed. 636), respecting the claims of the Utica City National Bank and another, such claimants and John A. Cantwell, trustee, bring cross-appeals.
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Appeal from the District Court of the United States for the Northern District of New York. In the matter of the Wright-Dana Hardware Company, bankrupt. From an order (207 Fed. 636), respecting the claims of the Utica City National Bank and another, such claimants and John A. Cantwell, trustee, bring cross-appeals. The Utica Oity National Bank, George S. Dana, and Robert D. Kinne, on January 17, 1912, filed a petition for adjudication of bankruptcy against the Wright-Dana Hardware Company. The said company was duly adjudicated a bankrupt on February 5, 1912. The Wright-Dana Company for a…
1Opinion of the CourtRogers, Circuit Judge
(after stating the facts as above). The question involved in this case is as to the effect of the bankruptcy of a depositor in a bank upon the bank's' right to set off sums due from it to the bankrupt against sums due from the bankrupt to it.
The bankruptcy act in section 68 contains the following provisions on the subject of set-offs and counterclaims:
“a. In all cases of mutual debts or mutual credits between the estate of a bankrupt and a creditor the account shall be stated and one debt shall be set off against the other, and the balance only shall be allowed or paid.”
“b. A set-off or…
2Cases cited4 opinions
- Studley v. Boylston National BankSupreme Court of the United States · 1913
- New York County National Bank v. MasseySupreme Court of the United States · 1904
- Keppel v. Tiffin Savings BankSupreme Court of the United States · 1905
- Page v. RogersSupreme Court of the United States · 1909
3Cited by11 opinions
- CITIZENS'NAT. BANK OF GASTONIA, NC v. LinebergerCourt of Appeals for the Fourth Circuit · 1930
- In Re Ira Haupt & Co.District Court, S.D. New York · 1966
- Widetzky v. Pilgrim Trust Co.Court of Appeals for the First Circuit · 1940
- American Bank v. JohnsonCourt of Appeals for the Ninth Circuit · 1917
- In re Radley Steel Const. Co.District Court, E.D. New York · 1914
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