Baldwin State Bank v. National Bank
Supreme Court of Georgia
Complaint. Before Judge Jones. Banks superior court. September 21, 1914. The National Bank of Athens brought suit against the Baldwin State Bank for the sum of $750, besides interest, on a certain draft or bill of exchange, drawn by the cashier of the Baldwin State Bank on the Fourth National Bank of Atlanta, the draft and indorsements thereon being as follows: “Baldwin State Bank.
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Complaint. Before Judge Jones. Banks superior court. September 21, 1914. The National Bank of Athens brought suit against the Baldwin State Bank for the sum of $750, besides interest, on a certain draft or bill of exchange, drawn by the cashier of the Baldwin State Bank on the Fourth National Bank of Atlanta, the draft and indorsements thereon being as follows: “Baldwin State Bank. No. 2714. Baldwin, Ga., Aug. 6, 1912. Pay to the order of Webb & Crawford Co. $750.00. T. G. Stephensj Cashier. To the Fourth National Bank, Atlanta, Ga.” Indorsed: “For deposit in Nat’l Bank of Athens, Aug. ,7,…
1Opinion of the CourtHill, J.
(After stating the foregoing facts.)
This case falls, within the decision in Freeman v. Exchange Bank, 87 Ga. 45 (13 S. E. 160). It was there held: “Generally, the payee of a bill of exchange, by indorsing it (otherwise in blank) For deposit to the credit of’ himself, .retains ownership not only of the bill, but of its proceeds until they are so deposited.” In the instant case the draft is indorsed: “For deposit in Nat’l Bank of Athens. . . To the credit of Webb & Crawford Co.” Prima facie the draft is a special deposit for collection, and does not pass title to the plaintiff bank. The instant…
2Cases cited6 opinions
- National Commercial Bank v. Miller & Co.Supreme Court of Alabama · 1884
- Beal v. City of SomervilleCourt of Appeals for the First Circuit · 1892
- Fourth National Bank v. MayerSupreme Court of Georgia · 1892
- Fayette National Bank v. SummersSupreme Court of Virginia · 1906
- Freeman v. Exchange BankSupreme Court of Georgia · 1891
1 more not listed; retrieve them via the Exa API.
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