Roberts v. Hill

The orator is receiver of the First National Bank of St. Albans; the defendant is administrator of the estate of D. R. Mc-Gregor. The bill is brought to set aside a pledge of a promissory note of $8,031.35, made by the officers of the bank to the defendant’s intestate on the twentieth day of February, 1884, to secure a deposit of $8,850. The right to have the pledge set aside and recover the note or its proceeds depends entirely upon section 5242, Rev. St. There is no question about the validity of the deposit,- nor but that the pledge would be good to secure it at common law. The statute…