National Bank of Commerce v. Morgan
Supreme Court of Alabama
Appeal from Circuit Court, Jefferson County; Dan A. Greene, Judge. Action by B. C. Morgan, against the National Hay Company, with garnishment to the First National Bank of Birmingham who answered “indebted,” but suggested the National Bank of Commerce as claimant. Issue was made up between the plaintiff and claimant, and the trial resulted in a judgment for the plaintiff, and claimant appealed.
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Appeal from Circuit Court, Jefferson County; Dan A. Greene, Judge. Action by B. C. Morgan, against the National Hay Company, with garnishment to the First National Bank of Birmingham who answered “indebted,” but suggested the National Bank of Commerce as claimant. Issue was made up between the plaintiff and claimant, and the trial resulted in a judgment for the plaintiff, and claimant appealed. Transferred from the Court of Appeals under Acts 1911, p. 449, § 6. The following is the statement of facts: On November 13, 1919, the National Hay Company, a corporation, having its principal place of…
1Opinion of the CourtAnderson, C. J.
Whether or not the appellant bank received the draft in question as a mere collecting agent ór as a purchaser, we need not decide, for it may be conceded that it acquired -same in the latter capacity, only for the purpose, however, of deciding this case, yet the proof fails to show that it was a bona fide purchaser for value. The appellant credited the amount of the draft to the deposit account of the drawer, the hay company, and did not become a bona fide purchaser of same as against the appel-lee, a creditor of the hay company, unless it showed that the amount so credited was absorbed by an…
2Cases cited19 opinions
- McNight v. ParsonsSupreme Court of Iowa · 1907
- Citizens' State Bank v. . CowlesNew York Court of Appeals · 1905
- Lehman Bros. v. Tallassee Manufacturing Co.Supreme Court of Alabama · 1879
- Drovers' National Bank v. BlueMichigan Supreme Court · 1896
- Harrison & Robinson v. JohnstonSupreme Court of Alabama · 1855
14 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- King v. PorterSupreme Court of Alabama · 1935
- Bath National Bank v. Ely N. Sonnenstrahl, Inc.New York Court of Appeals · 1928
- Universal C.I.T. Credit Corp. v. Guaranty Bank & Trust Co.District Court, D. Massachusetts · 1958
- Loop Nat. Bank of Mobile v. CoxSupreme Court of Alabama · 1954
- Colorado Nat. Bank v. Western Grain Co.Supreme Court of Alabama · 1928
5 more not listed; retrieve them via the Exa API.