Alexander v. Peebles
Supreme Court of Georgia
Equitable petition. Before Judge Hammond. Richmond superior court. May 26, 1914. On December 13, 1913, the Irish American Bank, a banking corporation of Augusta, Georgia, was placed in the hands of the State bank examiner by the action of the board of directors, who met and, after going over the financial condition of the bank, determined that said institution was insolvent, and for that reason they posted on the front door a notice reading as follows: “This bank is. in the…
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Equitable petition. Before Judge Hammond. Richmond superior court. May 26, 1914. On December 13, 1913, the Irish American Bank, a banking corporation of Augusta, Georgia, was placed in the hands of the State bank examiner by the action of the board of directors, who met and, after going over the financial condition of the bank, determined that said institution was insolvent, and for that reason they posted on the front door a notice reading as follows: “This bank is. in the hands of the State bank examiner.” This notice was signed by a majority of the directors of the bank, in their own…
1Opinion of the CourtBeck, J.
(After stating the foregoing facts.) We are of the opinion that the court erred in granting the injunction against the receiver in this case, and in directing him to accept, in part payment of the indebtedness due by the defendant to the bank, the assignment of Mrs. Bissie Smith, dated January 3, 1914, and amounting to $298.44. The act of the bank directors in placing the bank in the hands of the bank examiner prevented the purchasing, by any debtor of the bank, of claims against the bank for the purpose of setting them off at their face value against debts due the bank by such purchaser.…
2Cases cited1 opinion
- Nix v. EllisSupreme Court of Georgia · 1903
3Cited by5 opinions
- Park v. SwannCourt of Appeals of Georgia · 1917
- Meyer v. HiattCourt of Appeals of Georgia · 1929
- Mullins v. BreedingSupreme Court of Virginia · 1936
- Parker v. SchultzSupreme Court of Iowa · 1934
- Daniel v. Georgia State BankCourt of Appeals of Georgia · 1932