McCormick Harvesting Machine Co. v. Yankton Sav. Bank
South Dakota Supreme Court
Appeal from circuit court, Yankton county. Hon. E. G. Smith, Judge. Action by the McCormick Harvesting Machine Company against the Yankton Savings Bank and another. From a judgment in favor of defendants, plaintiff appeals. The bank received the money as a trust fund.
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Appeal from circuit court, Yankton county. Hon. E. G. Smith, Judge. Action by the McCormick Harvesting Machine Company against the Yankton Savings Bank and another. From a judgment in favor of defendants, plaintiff appeals. The bank received the money as a trust fund. The fact that without plaintiff’s knowledge or consent it placed the various amounts received in its 'books as a general deposit would not change the character of the transaction and .the plaintiff is entitled to a preference in its payment out of the assets of the assigned estate. Bowers v. Evans, 36 N. W. 629; Kimmel v.…
1Opinion of the CourtCorson, J.
This is an action by plaintiff against the defendant bank and its receiver, instituted by leave of the court, to compel the receiver to pay to the plaintiff as a preferred claimant, the sum of $380.72, for money alleged to have been received by the defendant bank prior to its insolvency, on November 22, 1899, as a trust fund. The case was tried by the court without a jury, and, findings óf fact and conclusions of law being found in favor of the defendants, the plaintiff appeals.
The court, among others, finds the following facts: “That prior to the first of October, 1899, the plaintiff…
2Cases cited2 opinions
- Plano Manufacturing Co. v. AuldSouth Dakota Supreme Court · 1901
- Kimmel v. DicksonSouth Dakota Supreme Court · 1894
3Cited by4 opinions
- Citizens Bank v. Bradley, ExaminerSupreme Court of South Carolina · 1926
- McKeon v. Meade County BankSouth Dakota Supreme Court · 1916
- Fergen v. LonieSouth Dakota Supreme Court · 1927
- In re Larkin & MetcalfDistrict Court, D. South Dakota · 1912