Fourth National Bank v. Odom
Supreme Court of Georgia
Interpleader. Before Judge Mathews. Bibb superior court. November 29, 1916. M. Eady rented a house from Guthrie, and gave monthly notes for the rent. Guthrie immediately transferred the notes to the Fourth National Bank of Macon as collateral security for an existing loan. Eady at this time was a tenant of Guthrie on the premises.
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Interpleader. Before Judge Mathews. Bibb superior court. November 29, 1916. M. Eady rented a house from Guthrie, and gave monthly notes for the rent. Guthrie immediately transferred the notes to the Fourth National Bank of Macon as collateral security for an existing loan. Eady at this time was a tenant of Guthrie on the premises. Subsequently Guthrie was adjudicated a bankrupt, and the premises rented to Eady were sold by the trustee in bankruptcy, and Odom and others became the purchasers. Thereafter Eady filed a petition for interpleader, alleging that he owed and was ready to pay the rent…
1Opinion of the CourtGilbert, J.
1. The court did not err in overruling the demurrer to the petition for interpleader. “Whenever a person is possessed of property •or funds, or owes a debt or duty, to which more than one person lays claim, and the claims are of such a character as to render it doubtful or. dangerous for the holder to act, he may apply to equity to compel the claimants to interplead.” Civil Code (1910), § 5471.
2. Where one holds a non-negotiable note containing language which would place a prudent man upon his guard, the maker of such note could, as against the holder, make all the defenses which would have…
2Cases cited4 opinions
- Guerry v. Perryman ex rel. DennardSupreme Court of Georgia · 1849
- Shelley v. BakerSupreme Court of Georgia · 1906
- Ball v. Citizens BankSupreme Court of Georgia · 1915
- Ball v. MaddenSupreme Court of Georgia · 1913
3Cited by1 opinion
- Fourth National Bank v. LattimoreSupreme Court of Georgia · 1929