Southern Trust Co. v. Wilkins
Supreme Court of South Carolina
Before Shipp, J., Spartanburg, Spring term, 1914. From an order on rule to show cause, issued in case of the Southern■ Trust Company v. W. Y. Wilkins et al., the defendant, H. M. Brown, appeals. The facts are stated in the opinion. relies upon the two-fund doctrine and cites: 26 Cyc. 935; 11 Rich. Eq. 259; 74 S. C. 375. Wilkins, cite: 1 Pom. Eq.
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Before Shipp, J., Spartanburg, Spring term, 1914. From an order on rule to show cause, issued in case of the Southern■ Trust Company v. W. Y. Wilkins et al., the defendant, H. M. Brown, appeals. The facts are stated in the opinion. relies upon the two-fund doctrine and cites: 26 Cyc. 935; 11 Rich. Eq. 259; 74 S. C. 375. Wilkins, cite: 1 Pom. Eq. Juris. 965; 26 E. R. A. (N. S.) 55; 43 S. C. 439; 184 U. S. 405; 50 N. E. 566; 74 S. C. 368; 71 S. C. 36; 59 Pac. 1102; 51 Pac. 1043; 8 E. R. A. (N. S.) 944; 33 So. 241; 49 Am. Rep. 126; 39 lb. 368; 37 S. W. 467; 37 L. R. A. 580; 33 So. 241; 103 N. W.…
1Opinion of the Court
The opinion of the Court was delivered by
Mr. Justice PIydrick.
On September 20, 1913, the plaintiff bank brought this action against Wilkins and Brown for foreclosure of a mortgage given to it by Wilkins. Brown is a junior mortgagee. On October 31, after judgment of foreclosure and sale had been rendered, plaintiff discovered it had $200 on general deposit to the credit of Wilkins. It removed the deposit from his account on its books, intending to apply it in payment of its debt, if the proceeds of the sale of the mortgaged property should be insufficient for that purpose; but it was not so…
2Cases cited4 opinions
- Davenport v. State Banking Co.Supreme Court of Georgia · 1906
- Callaham v. Bank of AndersonSupreme Court of South Carolina · 1904
- Hiller v. Bank of ColumbiaSupreme Court of South Carolina · 1913
- Hiller v. Bank of ColumbiaSupreme Court of South Carolina · 1912
3Cited by2 opinions
- Smith v. Crocker First National BankCalifornia Court of Appeal · 1957
- State Ex Rel. Craig v. Mutual Savings BankSupreme Court of South Carolina · 1926