Merchants' National Bank v. National Bank of the Commonwealth
Massachusetts Supreme Judicial Court
Contract to recover $15,000, the amount of a check, dated September 3, 1883, drawn on the plaintiff by Benjamin F. Burgess and Sons, in favor of the Massachusetts Loan and Trust Company, and by it deposited, on September 3, with the defendant.
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Contract to recover $15,000, the amount of a check, dated September 3, 1883, drawn on the plaintiff by Benjamin F. Burgess and Sons, in favor of the Massachusetts Loan and Trust Company, and by it deposited, on September 3, with the defendant. Trial in this court, before 0. Allen, J., who reported the case for the consideration of the full court, in substance as follows: The plaintiff and defendant banks are members of an unincorporated association called the Boston Clearing-House Association, whose rules and course of business are the same as set forth in the cases of Merchants' Bank v.…
1Opinion of the CourtDevens, J.
The rules and course of business of the unincorporated association called the Boston Clearing-House Association have been so set forth in the recent decisions of this court that they do not require to be here fully restated. They were adopted solely for the purpose of facilitating exchanges and the adjustment of accounts between the banks. By a contract between them, an association is formed, which is their common *518banker. To this association each bank, which is indebted by reason that more checks, &c. are presented, as drawn upon it, than it presents, as drawn against the other banks who are…
2Cases cited7 opinions
- National Bank of North America v. BangsMassachusetts Supreme Judicial Court · 1871
- Dana v. National Bank of the RepublicMassachusetts Supreme Judicial Court · 1882
- Merchants' Insurance Co. of Providence v. AbbottMassachusetts Supreme Judicial Court · 1881
- Merchants' National Bank v. National Eagle BankMassachusetts Supreme Judicial Court · 1869
- Boylston National Bank v. RichardsonMassachusetts Supreme Judicial Court · 1869
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3Cited by31 opinions
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- First National Bank v. City National BankMassachusetts Supreme Judicial Court · 1902
- Bellevue Bank of Allen Kimberly & Co. v. Security National BankSupreme Court of Iowa · 1915
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