Bank of Vance v. Crowder

Tbe action is prosecuted by tbe plaintiff for tbe purpose of impressing a trust, for its benefit as receiver, upon tbe town lot described in tbe deed from Gholson to Mrs. Crowder. Tbe equitable doctrine upon which tbe relief is sought is not questioned. If E. B. Crowder held tbe proceeds of tbe discounted note as a trustee for tbe Farmers and Merchants Bank a trust resulted by operation of law for tbe benefit of tbe bank and under tbe doctrine of implied trusts tbe fund could be followed into any property into which it was converted or invested unless affected by tbe rights of a bona fide…