Gold-Stabeck Loan & Credit Co. v. Security State Bank
South Dakota Supreme Court
Appeal from' 'Circuit Court, Faulk 'County. Hon. Ti-iOMAg L. BoucK, Judge. Action by the Gokl-Staheck Loan and Credit Company, against the Security State Bank and another, to recover for money loaned1 b)r plaintiff to' defendant bank upon a certificate of deposit. From a judgment for plaintiff, defendants appeal.
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Appeal from' 'Circuit Court, Faulk 'County. Hon. Ti-iOMAg L. BoucK, Judge. Action by the Gokl-Staheck Loan and Credit Company, against the Security State Bank and another, to recover for money loaned1 b)r plaintiff to' defendant bank upon a certificate of deposit. From a judgment for plaintiff, defendants appeal. Appellants cited; The President, etc., Bank of the United States' v. Owen et al., 2 Peters (U. S'.) 527, 7 L- Ed'. 525; First National Bank v. Hawkins, 174 U. S. 363, 43 L. Ed. 1007-1010; Johnson v. Berry, (S. D.) 104 N. W. 1114; Norbeck v. State, 32 'S. D. 190; Lee v. Smith, (Mo.)…
1Opinion of the CourtGates, J.
Plaintiff wrote defendant bank asking- if the-latter could use some money for eight or nine months at 7 per cent, interest, and, if so, offering to remit the proceeds on receipt of a certificate of deposit of the latter, indorsed by two of its most financially responsible directors. Some correspondence passed between them with relation to the matter, and on April 2, 1913, defendant bank sent plaintiff its certificate of deposit for $2,500, payable to plaintiff, indorsed by two of its directors. Although *241defendant bank foaidi followed1 strictly the instruction® of plaintiff, the latter…
2Cited by2 opinions
- Jacobson v. RudenSouth Dakota Supreme Court · 1932
- Bank of Avon v. SmithSouth Dakota Supreme Court · 1929