Walker v. Sellers
Supreme Court of Alabama
Appeal from Circuit Court, Chilton County; Gaston Gunter, Judge. Petition by J. A. Sellers for intervention and to be declared a preferred creditor of the Clanton Bank. From the decree rendered, A. E. Walker, the Superintendent of Banks, appeals.
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Appeal from Circuit Court, Chilton County; Gaston Gunter, Judge. Petition by J. A. Sellers for intervention and to be declared a preferred creditor of the Clanton Bank. From the decree rendered, A. E. Walker, the Superintendent of Banks, appeals. The petition shows that A. E. Walker, as superintendent of banks in Alabama, is administering the assets of the insolvent Clan-ton Bank in the circuit court of Chilton county in equity, and seeks to establish petitioner’s claim against said bank as the preferred claim of a depositor under section 250 of the Constitution. It is alleged that petitioner…
1Opinion of the CourtSomerville, J.
[1] “A cashier’s check, being merely a bill of exchange drawn by a bank on itself, and accepted in advance by the act of its issuance, is not subject to countermand by the payee after indorsement, as is an ordinary check by the drawer, and the relations of the parties to such an instrument are analogous to those of the parties to a negotiable note payable on demand.” 2 Michie on Banks and Banking, § 139 (2); 5 R. C. L. 528, 529. But “when such a check is given to a depositor to cover the amount of a withdrawal, it is merely an acknowledgment of an indebtedness on the part of the bank to the…
2Cases cited3 opinions
- National Commercial Bank v. Miller & Co.Supreme Court of Alabama · 1884
- Lummus Cotton Gin Co. v. WalkerSupreme Court of Alabama · 1916
- Clark v. Chicago Title & Trust Co.Illinois Supreme Court · 1900
3Cited by23 opinions
- Middlekauff v. State Banking BoardTexas Supreme Court · 1922
- State v. Tyler County State BankTexas Commission of Appeals · 1925
- Bank of Am. Nat'l Trust & Sav. Ass'n v. CranstonCalifornia Court of Appeal · 1967
- In re the Bank of United StatesAppellate Division of the Supreme Court of the State of New York · 1935
- Bassett v. Merchants Trust Co.Supreme Court of Connecticut · 1934
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