Second National Bank v. Bank of Alma
Supreme Court of Arkansas
Appeal from Crawford Circuit Court; Jeptha H. Evans, Judge; 1. When a bank receives from the owner a bill for collection, it thereby becomes the agent of the owner for collection; and if it employs some other bank or individual to collect' the bill, the latter becomes the agent of the former bank, and not of the owner, and, in the absence of any agreement to' the contrary, is answerable to it for loss caused by its failure to discharge its duties as agent. 121 N. Y. Supp.…
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Appeal from Crawford Circuit Court; Jeptha H. Evans, Judge; 1. When a bank receives from the owner a bill for collection, it thereby becomes the agent of the owner for collection; and if it employs some other bank or individual to collect' the bill, the latter becomes the agent of the former bank, and not of the owner, and, in the absence of any agreement to' the contrary, is answerable to it for loss caused by its failure to discharge its duties as agent. 121 N. Y. Supp. 104; 11 N. Y. 203; 47 N. Y. 570, 7 Am. Rep. 489; 116 N. Y. 492, 22 N. E. 1077; 128 N. Y. 26, 27 N. E. 849, 13 R. A. 241.…
1Opinion of the CourtFrauenthae, J.
This was an action instituted by the Second National Bank of Baltimore, plaintiff below, to recover from the Bank of Alma the face value of a draft which it had sent to the latter bank for collection, accompanied with a bill of lading, which the defendant turned over to the drawee without payment of the draft, as, it was alleged, contrary to the plaintiff’s instructions. The plaintiff was engaged in the banking business at Baltimore, Maryland, and the defendant was engaged in the same character of business at Alma, Arkansas.
In February, 1908, the Judge Machine Company, which was located at…
2Cases cited8 opinions
- PRESIDENT AND DIRECTORS OF THE BANK OF WASHINGTON v. Triplett & NealeSupreme Court of the United States · 1828
- First National Bank v. Fourth National BankNew York Court of Appeals · 1879
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- Mann v. Second National BankSupreme Court of Kansas · 1883
- Fredonia National Bank v. TommeiMichigan Supreme Court · 1902
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