Valley Bank v. Brown
Arizona Supreme Court
APPEAL from a judgment of the District Court of the Third Judicial District in and for the County of Maricopa. Edward Kent, Judge. The facts are stated in the opinion.
1Opinion of the CourtCampbell, J.
Plaintiff below, appellee here, was a depositor of the, defendant bank. In December, 1902, the bank, by its president and manager, drew a check for one thousand dollars against plaintiff’s deposit, and loaned that sum to one L. D. McClure, taking a promissory note payable to plaintiff, due in one year, and bearing interest at the rate of ten per cent per annum. McClure was a retail druggist, carrying on business in the city of Phcenix. As collateral security for the loan, he pledged a warehouse receipt for whisky in bond - in Kentucky, and agreed to set apart a portion of his stock of goods,…
2Cases cited3 opinions
- Owings v. HullSupreme Court of the United States · 1835
- Wheeler v. Northwestern Sleigh Co.U.S. Circuit Court for the District of Eastern Wisconsin · 1889
- Bank of Owensboro v. Western BankCourt of Appeals of Kentucky · 1877
3Cited by3 opinions
- Haswell v. StandringSupreme Court of Iowa · 1911
- Valley National Bank of Ariz. v. Avco Develop. Co.Court of Appeals of Arizona · 1971
- Chapman v. First Nat. BankOregon Supreme Court · 1914