Ames v. Bank of Nutley

On February 10th, 1930, complainant Allan P. Ames, and defendant, Bank of Nutley, entered into an agreement in writing whereby Ames deposited with the bank as trustee certain insurance policies on his life and agreed to open a special deposit account and to deposit therein $2,300, and the further sum annually of $4,800, in monthly installment payments, the first installment to be paid on February 15th, 1930. The fund thus created was to be invested and reinvested, but not less than $2,500 was to be invested in securities in "liquid form" and the balance in said special account was not…