Meyer, Strauss, Goodman & Co. v. Farmers & Traders' Bank
Supreme Court of Iowa
Appeal from Decatur District Court. — Hon. B. O. Henry, Judge. Action in chancery to charge defendant, the Farmers and Traders’ Bank, as trustee, and for damages, and an accounting on account of breach of trust duties, and for general relief. The Home Insurance Company is sought to be charged on a policy which had been discharged in the settlement of certain actions thereon. Upon a trial on the merits, plaintiffs’ petition was dismissed. They now appeal to this court.
1Opinion of the CourtBeck, J.
I. The following are the facts of the case, as found by us upon the pleadings and evidence: (1) The Home Insurance Company issued to one Nott a policy of insurance upon a stock of merchandise in the sum of seven thousand dollars. Soon after, the merchandise was totally destroyed by fire. (2) Nott at the time owed the Farmers & Traders’ Bank $2,27.3; the plaintiffs, $3,657; and another firm, Clement, Sayer & Co., five hundred and seventy dollars; and probably others in various sums. (3) Immediately after the fire Nott assigned the policy to the bank, giving it absolute power to collect the…
2Cited by2 opinions
- Buck Reiner Co. v. Chase & WordenSupreme Court of Iowa · 1892
- Exchange Nat. Bank v. RogersSupreme Court of Oklahoma · 1928