First National Bank v. Briggs
Supreme Court of Vermont
Appeal from the allowance by the Court of Insolvency for the District of Rutland of a claim against the estate of George Briggs, insolvent debtor, as surety upon the official bond of F. E. Briggs as cashier of the plaintiff. Adjudged, pro forma, upon an agreed statement of facts, at the March Term, 1894, Rutland County, Munson, J., presiding, that the action might be maintained.
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Appeal from the allowance by the Court of Insolvency for the District of Rutland of a claim against the estate of George Briggs, insolvent debtor, as surety upon the official bond of F. E. Briggs as cashier of the plaintiff. Adjudged, pro forma, upon an agreed statement of facts, at the March Term, 1894, Rutland County, Munson, J., presiding, that the action might be maintained. February 3, 1883, F. E. Briggs was elected by the directors cashier of said bank for the year ensuing. March 5,1883, the bond in question was executed. January 8, 1884, and annually thereafter for nine years, said F.…
1Opinion of the Court
Muns'on J.
The plaintiff is a corporation organized under the National Bank act. Its board of directors was empowered by that act to appoint a cashier and dismiss him at pleasure, and to prescribe by-laws, not inconsistent with law, regulating the manner in which the cashier should be appointed. A by-law was adopted which provided that the cashier should be appointed to hold his office during the pleasure of the board. The insolvent’s first election as cashier was for the year ensuing, and he was thereafter for ten years annually re-elected. Soon after his first election, he gave the bond in…
2Cases cited6 opinions
- United States v. LinnSupreme Court of the United States · 1841
- Toombs v. StoneCourt of Appeals of Kentucky · 1859
- Rathbun v. . SnowNew York Court of Appeals · 1890
- Welch v. SeymourSupreme Court of Connecticut · 1859
- Treasurer of the State v. MannSupreme Court of Vermont · 1861
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3Cited by16 opinions
- Nelson v. Town of St. Johnsbury, LaMotte, Oddy, Ruggles, Rust, Timson and Town of St. JohnsburySupreme Court of Vermont · 2015
- In Re Paramount Publix CorporationCourt of Appeals for the Second Circuit · 1937
- Ida County Savings Bank v. SeidenstickerSupreme Court of Iowa · 1905
- North Providence v. Aetna Indemnity Co.Supreme Court of Connecticut · 1916
- American Surety Co. v. Gaskill's Admr.Supreme Court of Vermont · 1912
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