Marine Bank v. Chandler
Illinois Supreme Court
This was an action of assumpsit for money had and received, money lent, money due upon account stated, and money paid, etc., commenced in the Superior Court of Chicago, to the July term thereof, 1861, by defendant in error, against the appellants, for damages laid at §20,000. The declaration is in the usual form, containing only the money counts, attached to which is a copy of the account upon which the suit is brought, and is for an alleged deposit of $20,000—by the…
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This was an action of assumpsit for money had and received, money lent, money due upon account stated, and money paid, etc., commenced in the Superior Court of Chicago, to the July term thereof, 1861, by defendant in error, against the appellants, for damages laid at §20,000. The declaration is in the usual form, containing only the money counts, attached to which is a copy of the account upon which the suit is brought, and is for an alleged deposit of $20,000—by the defendant in appeal, with the plaintiffs as bankers. Defendants below filed the plea of the general issue, and the trial took…
1Opinion of the CourtWalker, J.
In determining this case, it will be proper, first, to determine, whether the deposits made by appellee were a bailment only, for safe keeping by the bank, or were made to be passed to appellee’s credit, in the usual course of banking business. If for the former purpose, then the appellee must be responsible for any depreciation in the value of the funds which occurred, before a demand was made, if appellant in good faith preserved the identical funds placed in the hands of the bank. If the relation of the bank to appellee, was simply that of a bailee for safe keeping, and the identical funds…
2Cited by9 opinions
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- Hurley v. Markville State Bank Ex Rel. VeigelSupreme Court of Minnesota · 1931
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