First National Bank v. Pettit & Smith
Illinois Supreme Court
Appeal from the Recorder’s Court of Chicago; the Hon. Evert Van Burén, Judge, presiding. This was an action of assumpsit brought in the court below by Pettit & Smith against the First National bank of Chicago, to recover the amount of a check drawn by George M. Allen upon the bank, and in favor of the plaintiffs. A trial resulted in a finding, and judgment in favor of the plaintiffs. The defendant thereupon took this appeal.
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Appeal from the Recorder’s Court of Chicago; the Hon. Evert Van Burén, Judge, presiding. This was an action of assumpsit brought in the court below by Pettit & Smith against the First National bank of Chicago, to recover the amount of a check drawn by George M. Allen upon the bank, and in favor of the plaintiffs. A trial resulted in a finding, and judgment in favor of the plaintiffs. The defendant thereupon took this appeal. The grounds upon which the plaintiffs sought to recover are set forth in the opinion of the court.
1Opinion of the CourtJustice Lawrence
On the 14th of June, 1865, George M. Allen made an arrangement with the First National bank of Chicago, by which it was to pay his checks to the value of a cargo of corn, amounting to between $8,000 and $9,000 upon the security of the bill of lading. He was to buy the corn as a broker, upon the order of Charles J. Mann, of Buffalo, upon whom he was to draw his draft in favor of the bank for the amount of its advances, and the hank was to hold the hill of lading as security for the payment of the draft. At the close of bank hours, on the 15th of June, the hank had paid his checks to an amount…
2Cited by2 opinions
- Nelson v. First National BankIllinois Supreme Court · 1868
- Myeks v. Union National BankAppellate Court of Illinois · 1888