Bank of Luverne v. Birmingham Fertilizer Co.
Supreme Court of Alabama
Appeal from Crenshaw Chancery Court. Heard before Hon. W. L. Parks. The Birmingham Fertilizer Company filed its bill of complaint in the Chancery Court of the County of Crenshaw against the Bank of Luverne, Duke Beall and J. H. Beall, the last two being partners under the firm name of Beall Brothers. The Bank of Luverne moved to dismiss the bill for want of equity.
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Appeal from Crenshaw Chancery Court. Heard before Hon. W. L. Parks. The Birmingham Fertilizer Company filed its bill of complaint in the Chancery Court of the County of Crenshaw against the Bank of Luverne, Duke Beall and J. H. Beall, the last two being partners under the firm name of Beall Brothers. The Bank of Luverne moved to dismiss the bill for want of equity. That motion was overruled and the only question involved in this appeal is the correctness of said ruling of sa'd chancery court. The allegations of the bill of complaint are, in substance; that complainant is a corporation, with…
1Opinion of the CourtMcCLELLAN, C. J.
Assuming that on the facts averred in this bill the notes, accounts and other evidences of debt which Beall Brothers transferred to the Bank of Luverne were, while they were held and owned by Beall Brothers, impressed with a trust in favor of complainant to the extent and in the manner claimed in the bill, it is clear, we think, that tliey were not so impressed in the hands of the Luverne Bank, unless at the *157time it purchased them it had knowledge or notice of the existence of this trust as between its assignor and the complainant. We understand this proposition to be admitted. It follows…
2Cited by12 opinions
- Patton v. DardenSupreme Court of Alabama · 1933
- Pollak v. MillsapSupreme Court of Alabama · 1928
- Cassel v. Mercantile Trust CompanySupreme Court of Missouri · 1965
- Cortner v. Anderson, Clayton & Co.Supreme Court of Alabama · 1932
- Kibbe v. ScholesSupreme Court of Alabama · 1929
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