Ingraham v. President of Maine Bank
Massachusetts Supreme Judicial Court
Assumpsit for money had and received, tried at the last October ■ term, in this county, before Wilde, J. The plaintiff proved, that, on the first of June, 1807, one D. Hale was reappointed cashier of the said Maine Bank, and that the plaintiff, with two other persons, on the same day executed a bond with Hale, as his sureties, in the penal sum of $ 15,000, conditioned, that the said Hale should ever thereafter, during his continuance in said office, well and truly perform,…
Read the full summary
Assumpsit for money had and received, tried at the last October ■ term, in this county, before Wilde, J. The plaintiff proved, that, on the first of June, 1807, one D. Hale was reappointed cashier of the said Maine Bank, and that the plaintiff, with two other persons, on the same day executed a bond with Hale, as his sureties, in the penal sum of $ 15,000, conditioned, that the said Hale should ever thereafter, during his continuance in said office, well and truly perform, observe, do, and discharge all' the duties of his *said office, according to law, and the custom and usages of banks. In…
1Opinion of the Court
* Parker, C. J.
The money demanded in this action cannot be recovered, if, by means of the misconduct of Hale, for whose faithful conduct the plaintiff and his co-sureties were responsible, happening after the execution of their bond, the defendants have been damnified to the extent of the sum explained. Now, although a deficit existed, equal to this sum, before the execution of this bond, and which may have been covered by an antecedent bond; yet, the fact proved, that Hale took money from the vaults, without the knowledge of the directors, and repaid it to those of whom he had borrowed it,…
2Cited by6 opinions
- Atlantic Cotton Mills v. Indian Orchard MillsMassachusetts Supreme Judicial Court · 1888
- County of Pine v. WillardSupreme Court of Minnesota · 1888
- Independent School District v. HubbardSupreme Court of Iowa · 1899
- State ex rel. Southern Bank v. AthertonSupreme Court of Missouri · 1867
- United States Fidelity & Guaranty Co. v. Metropolitan Nat. BankDistrict Court, D. Minnesota · 1932
1 more not listed; retrieve them via the Exa API.