Cassidy v. First National Bank of Faribault
Supreme Court of Minnesota
Plaintiff, claiming to be the owner of a certificate of deposit issued by defendant, payable to the order of her husband, Jerry Cassidy, presented the same to defendant for payment, which was refused because it was not indorsed by the payee. Thereupon plaintiff brought this action on the certificate, as on a promissory note.
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Plaintiff, claiming to be the owner of a certificate of deposit issued by defendant, payable to the order of her husband, Jerry Cassidy, presented the same to defendant for payment, which was refused because it was not indorsed by the payee. Thereupon plaintiff brought this action on the certificate, as on a promissory note. A jury was waived, and the action tried in the district court for Eice county, before Buckham, J., and judgment rendered for plaintiff, from which defendant appeals.
1Opinion of the Court
Berry, J.*
The defendant issued the following instrument, signed by its president:
“First National Bank,
“Faribault, Minn., June 1, 1880.
“Jerry Cassidy, Esq., has deposited in this bank $1,050, payable to himself or order, in current funds, on the return of this certificate properly indorsed.”
The money deposited was the property of plaintiff, by whom it was handed to Jerry Cassidy, her husband, to be deposited in the defendant bank in his or her name, as he saw fit. Immediately upon receiving the certificate he delivered it to plaintiff, who ever since has had its exclusive possession and…
2Cases cited4 opinions
- Grimes v. BryneSupreme Court of Minnesota · 1858
- Pardee v. . FishNew York Court of Appeals · 1875
- Klauber v. BiggerstaffWisconsin Supreme Court · 1879
- Gates v. MannySupreme Court of Minnesota · 1869
3Cited by15 opinions
- Little v. BradleySupreme Court of Florida · 1901
- Merchants' National Bank of St. Paul v. HansonSupreme Court of Minnesota · 1884
- Mitchell v. EastonSupreme Court of Minnesota · 1887
- First National Bank v. Security National BankNebraska Supreme Court · 1892
- Clyde S. S. Co. v. WhaleyCourt of Appeals for the Fourth Circuit · 1916
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