Dennis v. Smith

The Partners’ Improvement Bank became insolvent. and a receiver was appointed to take charge of its assets. The receiver was ordered to offset all accounts due the bank against any deposits therein by the same parties. At the time the bank closed, W. L. Dennis and E. G. Boykin were each individually indebted to the bank. Dennis & Boykin Undertaking Company, .a corporation, of which W. L. Dennis and E. G. Boykin were stockholders, had funds on deposit in the bank. This action was brought by Dennis and Boy-kin to compel the receiver to charge off the amounts due by them to the bank against the…