Lamar, Taylor & Riley Drug Co. v. First National Bank
Supreme Court of Georgia
Complaint. Before Judge Crosland. City court of Albany. November term, 1905. Lamar, Taylor & Riley Drug Company filed its petition against the First National Bank of Albany, alleging that the bank had issued the following certificate of deposit: “Received of Morris Weslosky and T. D. Sale thirty-three hundred and forty-three and twenty-eight one-hundredths dollars ($3,343.28) on' deposit to the credit of Lamar, Taylor & Riley Drug Company, subject to their cheek on the…
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Complaint. Before Judge Crosland. City court of Albany. November term, 1905. Lamar, Taylor & Riley Drug Company filed its petition against the First National Bank of Albany, alleging that the bank had issued the following certificate of deposit: “Received of Morris Weslosky and T. D. Sale thirty-three hundred and forty-three and twenty-eight one-hundredths dollars ($3,343.28) on' deposit to the credit of Lamar, Taylor & Riley Drug Company, subject to their cheek on the completion of the inventory of the Sale Davis branch of the C. M. Shivers Drug Company. Notice of the completion and…
1Opinion of the CourtEvans, J.
1-3. A certificate of deposit issued by a bank, certifying that the depositor has deposited a stated sum of money subject to his order, is the equivalent of a promissory note payable on demand. Lynch v. Goldsmith, 64 Ga. 42. Where the certificate of deposit recites that the money is deposited to the credit of a third person, subject to the cheek of such third person, and no control over it is reserved to the depositor, it is equivalent to a promise by the bank to pay such third person upon presentation of the certificate of deposit. The recital that a particular person made the actual deposit…
2Cases cited3 opinions
- Ripley v. Eady & MayfieldSupreme Court of Georgia · 1899
- Baker v. TillmanSupreme Court of Georgia · 1890
- Lynch v. GoldsmithSupreme Court of Georgia · 1879
3Cited by15 opinions
- Willingham, Wright & Covington v. GloverCourt of Appeals of Georgia · 1922
- Olds Motor Works v. Olds Oakland Co.Supreme Court of Georgia · 1913
- Loewenherz v. WeilCourt of Appeals of Georgia · 1925
- Blyth v. WhiteSupreme Court of Georgia · 1934
- Buchan v. WilliamsonSupreme Court of Georgia · 1908
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