Raymond v. Palmer
Supreme Court of Louisiana
APPEAL from the Civil District Court for the Parish of Orleans. Houston, J. The right of the depositor or customer to check upon the amount properly to his credit in the bank, is not in the least affected, nor is the corresponding obligation of the bank to pay the check in any degree modified by the fact, if it be the fact, that the customer’s commercial firm account is overdrawn, for the individual and the firm account are soparato, disconnected and distinct.
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APPEAL from the Civil District Court for the Parish of Orleans. Houston, J. The right of the depositor or customer to check upon the amount properly to his credit in the bank, is not in the least affected, nor is the corresponding obligation of the bank to pay the check in any degree modified by the fact, if it be the fact, that the customer’s commercial firm account is overdrawn, for the individual and the firm account are soparato, disconnected and distinct. See Morse on Banks and Banking, page 48, Chapter on depositors and customers. Hor is the depositor’s right to draw or the obligation…
1Opinion of the Court
The opinion of the Court was delivered by
Poché, J.
Plaintiffs brought this suit as commissioners of the “ Louisiana Savings Bank and Safe. Deposit Company” in liquidation, to recover 177 shares of Louisiana Lottery stock, alleged to have been the lawful property of said corporation, on the 27th of May, 1879, when said stock was illegally pledged, as his property, to the -People’s Bank, by E. C. Palmer, then the president of the Louisiana Savings Bank. At the instance of the commissioners the pledged stock was sequestered.
On motion of Palmer, the sequestration was bonded on the 18th of…
2Cases cited2 opinions
- Starr & Howland v. Zacharie & Co.Supreme Court of Louisiana · 1841
- Dupre v. SplaneSupreme Court of Louisiana · 1840
3Cited by24 opinions
- Loucks v. Albuquerque National BankNew Mexico Supreme Court · 1966
- Ledoux v. Old Republic Life Insurance CompanyLouisiana Court of Appeal · 1970
- Hodgin v. Peoples' National BankSupreme Court of North Carolina · 1899
- Da Ponte v. OgdenSupreme Court of Louisiana · 1926
- Brinson v. Monroe Automobile & Supply Co.Supreme Court of Louisiana · 1934
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