Inter-state National Bank v. Ringo
Supreme Court of Kansas
Error from Wyandotte district court; E. L. Fischer, judge. STATEMENT. Ringo & Askew, residing in Oklahoma, gave their note for $10,209.63 to Ladd, Penny & Swazey, commission merchants, of Kansas City, due without grace June 14, 1900, secured by a mortgage on cattle, which was duly filed for record. The payees sold the note to the Watkins National Bank of Lawrence, which sent it for collection to the Inter-state National Bank at Kansas City a few days before its maturity.
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Error from Wyandotte district court; E. L. Fischer, judge. STATEMENT. Ringo & Askew, residing in Oklahoma, gave their note for $10,209.63 to Ladd, Penny & Swazey, commission merchants, of Kansas City, due without grace June 14, 1900, secured by a mortgage on cattle, which was duly filed for record. The payees sold the note to the Watkins National Bank of Lawrence, which sent it for collection to the Inter-state National Bank at Kansas City a few days before its maturity. To meet this note the makers, on June 5, 1900, executed a new note, and a mortgage on the same cattle securing it, and sent…
1Opinion of the Court
The opinion of the court was delivered by
Mason, J.:
In support of the judgment rendered it is argued that, -inasmuch as the check given by the Union Brokerage Company to Ladd, Penny & Swazey really belonged to Ringo & Askew, it could not under the circumstances of this case be diverted from its true ownership, but after its deposit in the Merchants’ Bank constituted a trust fund for the purpose for which it was intended, namely, the payment of the first Ringo & Askew note. The cases of Cady v. South Omaha Nat. Bank, 46 Neb. 756, 65 N. W. 906, 49 Neb. 125, 68 N. W. 358, and Davis v. Panhandle…
2Cases cited10 opinions
- Cady v. South Omaha National BankNebraska Supreme Court · 1896
- Midland National Bank of Kansas City v. BrightwellSupreme Court of Missouri · 1899
- Cheltenham Stone & Gravel Co. v. Gates Iron WorksIllinois Supreme Court · 1888
- Kimmel v. BeanSupreme Court of Kansas · 1904
- Bank v. CummingsTennessee Supreme Court · 1891
5 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Ballard v. Home National BankSupreme Court of Kansas · 1913
- Security Nat. Bank of Sioux City v. Old Nat. Bank of Battle CreekCourt of Appeals for the Eighth Circuit · 1917
- Cleve v. Craven Chemical Co.Court of Appeals for the Fourth Circuit · 1927
- Bassett v. Merchants Trust Co.Supreme Court of Connecticut · 1934
- AKAMINE & SONS v. Hawaii Nat. Bank, HonoluluHawaii Supreme Court · 1972
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