Corp. Commission v. Merchants Bank & Trust Co.

The central question turns upon the nature of the transaction between the claimant and the Merchants Bank and Trust Com pany. Considered in view of the evidence and the verdict, what did the transaction amount to in contemplation of law? The answer involves preliminary inquiry into the nature of the deposit — whether it was general or special, or whether it was a deposit for a specific purpose.

A general deposit is the payment of money into a bank to be repaid upon demand; the deposit creates between the bank and the defendant the relation of debtor and creditor; the relation is legal; the…