President of the Gloucester Bank v. President of the Salem Bank
Massachusetts Supreme Judicial Court
Assumpsit for money had and received. Trial was had on the general issue, November term, 1818, before the Chief Justice ; when it appeared that on the 30th of January, 1818, the cashier of the Salem bank informed the cashier of the Gloucester bank, by letter of that date, that he had on hand, in notes of the Gloucester bank, above 8500 dollars, and wished an exchange for Essex or Boston notes.
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Assumpsit for money had and received. Trial was had on the general issue, November term, 1818, before the Chief Justice ; when it appeared that on the 30th of January, 1818, the cashier of the Salem bank informed the cashier of the Gloucester bank, by letter of that date, that he had on hand, in notes of the Gloucester bank, above 8500 dollars, and wished an exchange for Essex or Boston notes. On Saturday, the 7th of February following, the cashier of the Gloucester bank drew a check on the Boston bank for 8500 dollars, which Mr. Mansfield, one of the directors of the Gloucester bank, took to…
1Opinion of the CourtParker, C. J.
The question in this case is, whether, as between these parties equally innocent and ignorant, the loss shall remain where the chance of business has placed it, or shall be shifted back upon the Salem bank, who may be considered as having, by good fortune, rid themselves of it.
In all such cases, the just and sound principle of decision has been, that if the loss can be traced to the fault or negligence of either party, it shall be fixed upon him. Generally, where no fault or negligence is imputable, the loss has been suffered to remain where the course of business has placed it.
The case of…
2Cases cited1 opinion
- Commonwealth v. ChurchillMassachusetts Supreme Judicial Court · 1809
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