Farmers' & Merchants' Bank of Clay Center v. Farwell
Court of Appeals for the Eighth Circuit
Appeal from the Circuit Court of the United States for the District of Kansas. In Equity. Suit by John V. Farwell, Charles B. Farwell, John K. Haimon, John T. Chumasen), and John V. Farwell, Jr., doing business under the firm name of John V. Farwell & Co., against the Farmers’ & Merchants’ Bank of Clay Center, Kan., to recover pro-, ceeds of insurance policies, as assignees thereof. Decree for complainants. Respondent appeals.
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Appeal from the Circuit Court of the United States for the District of Kansas. In Equity. Suit by John V. Farwell, Charles B. Farwell, John K. Haimon, John T. Chumasen), and John V. Farwell, Jr., doing business under the firm name of John V. Farwell & Co., against the Farmers’ & Merchants’ Bank of Clay Center, Kan., to recover pro-, ceeds of insurance policies, as assignees thereof. Decree for complainants. Respondent appeals. Statement by SANBORN, Circuit Judge: H. L. Frishman, a merchant in Olay Center, in the state of Kansas, sustained a loss by fire March 3, 18S8. He held nine policies of…
1Opinion of the CourtSanborn, Circuit Judge
A bank has a lien on the moneys or funds of a depositor to secure his overdue indebtedness to it, and may at once apply these funds to the payment of such a debt. The foundation of this lien is the mutual relation of the parties. The depositor owes the bank for •money he may have borrowed, and his debt is due. The bank owes the depositor for moneys he has deposited, and that debt is due. ■ If *635the depositor brings an action for the anion nt of his deposit, the bank can, of course, set off the past-due debt he owes it, and the balance only can be recovered. The lien of (he bank ifpon moneys…
2Cases cited15 opinions
- National Bank v. Insurance Co.Supreme Court of the United States · 1881
- Brant v. Virginia Coal & Iron Co.Supreme Court of the United States · 1876
- Boggs v. Merced Mining Co.California Supreme Court · 1859
- Van Alen v. . American National BankNew York Court of Appeals · 1873
- Davis v. DavisCalifornia Supreme Court · 1864
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3Cited by23 opinions
- Salem Trust Co. v. Manufacturers' Finance Co.Supreme Court of the United States · 1924
- New York Life Insurance v. McMasterCourt of Appeals for the Eighth Circuit · 1898
- Central Improvement Co. v. Cambria Steel Co.Court of Appeals for the Eighth Circuit · 1913
- Daniels v. BenedictCourt of Appeals for the Eighth Circuit · 1899
- Bird & Sons Sales Corporation v. TobinCourt of Appeals for the Eighth Circuit · 1935
18 more not listed; retrieve them via the Exa API.