Merchants National Bank v. Guilmartin
Supreme Court of Georgia
Bailments. Banks and depositors. Diligence. Before Judge Harden.' City court of Savannah. July term, 1891. Action by Guilmartin against the bank, alleging that it was indebted to him $20,000 in this: On March 7, 18.87, he had entrusted to and bailed as a special deposit in the charge and custody of defendant, which was then engaged in the business of banking, certain bonds for which the bank gave him receipts dated March 7, 1887, specifying that the securities therein…
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Bailments. Banks and depositors. Diligence. Before Judge Harden.' City court of Savannah. July term, 1891. Action by Guilmartin against the bank, alleging that it was indebted to him $20,000 in this: On March 7, 18.87, he had entrusted to and bailed as a special deposit in the charge and custody of defendant, which was then engaged in the business of banking, certain bonds for which the bank gave him receipts dated March 7, 1887, specifying that the securities therein described were “to be held subject to his order,” and signed by the cashier of the bank as such. On April 18,1891, at the…
1Opinion of the Court
Lumpkin, Justice.
The main question raised in the record is whether a bank, which through the cashier received from one of its customers a special deposit of valuable securities to be kept simply for the depositor’s accommodation and returned to him on demand, shall be held liable for the felonious appropriation of the securities by the cashier to his own use, he taking them while they were in the bank. The answer to this question depends on the nature of the duty assumed by the bank with respect to *799the deposit. Such a deposit belongs to the class of bailments termed “ gratuitous,” and the…
2Cases cited12 opinions
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- National Bank v. GrahamSupreme Court of the United States · 1880
- First Nat. Bank v. . Ocean Nat. BankNew York Court of Appeals · 1875
- Preston v. PratherSupreme Court of the United States · 1891
- United Society of Shakers v. UnderwoodCourt of Appeals of Kentucky · 1873
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3Cited by38 opinions
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- Renfroe v. FouchéCourt of Appeals of Georgia · 1921
- Kegan v. Park BankSupreme Court of Missouri · 1928
- Bailie v. Augusta Savings BankSupreme Court of Georgia · 1895
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