Shotwell v. Sioux Falls Savings Bank
South Dakota Supreme Court
Appeal from Circuit -Court, Minnehaha County. Hon. Joseph W. Jokes, Judge. Action by E. Ml Sbotw-e-11 against the Sio-ux Falls Savings Bank, to recover for part of the -proceeds of sale of plaintiff’s grain -deposited in a grain elevator and sold -by the operator, draft for which proceeds had been deposited in defendant bank in the name of the operator. From a judgment for defendant, and from an order denying- a new trial, plaintiff appeals.
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Appeal from Circuit -Court, Minnehaha County. Hon. Joseph W. Jokes, Judge. Action by E. Ml Sbotw-e-11 against the Sio-ux Falls Savings Bank, to recover for part of the -proceeds of sale of plaintiff’s grain -deposited in a grain elevator and sold -by the operator, draft for which proceeds had been deposited in defendant bank in the name of the operator. From a judgment for defendant, and from an order denying- a new trial, plaintiff appeals. The funds received from the sale of plaintiff’s wheat were trust funds, and -did not lose their character by being deposited to the individual' account…
1Dissent
McCOY, J:,
dissenting. I am unable to concur in the majority opinion. It is my view that the law which is applicable to trust personal property generally is not applicable to money and commercial paper, — that the law as to cash and commercial paper is regulated by decisions and usages peculiar to itself. Saltus v. Everett, 20 Wend. (N. Y.) 267, 32 Am. Dec. 541; Faucett v. Osborn, 32 Ill. 411, 83 Am. Dec. 278; Linnen v. Cruger, 40 Barb. (N. Y.) 633; Hazard v. Fiske, 18 Hun (N. Y.) 277; Bank of Toledo v. Shaw, 61 N. Y. 283; Follett Wool Co. v. Utica Trust Co., 84 App. Div. 151, 82 N. Y. Supp.…
2Cases cited13 opinions
- Stephens v. . Board of EducationNew York Court of Appeals · 1879
- Hatch v. Fourth National BankNew York Court of Appeals · 1895
- Smith v. Des Moines National BankSupreme Court of Iowa · 1899
- Stollenwerck v. ThacherMassachusetts Supreme Judicial Court · 1874
- Fawcett, Isham & Co. v. Osborn, Adams & Co.Illinois Supreme Court · 1863
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