Valley Bank v. Malcolm
Arizona Supreme Court
APPEAL from a judgment of the Superior Court of the County of Maricopa. R. C. Stanford, Judge. STATEMENT OF FACTS. For many years prior to November 9, 1914, the Valley Bank of Phoenix was a banking corporation carrying on a large business at Phoenix, Arizona. On that day the state auditor and bank comptroller took possession of its assets and property and closed its doors, and shortly thereafter reported his action to the Attorney General of the state.
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APPEAL from a judgment of the Superior Court of the County of Maricopa. R. C. Stanford, Judge. STATEMENT OF FACTS. For many years prior to November 9, 1914, the Valley Bank of Phoenix was a banking corporation carrying on a large business at Phoenix, Arizona. On that day the state auditor and bank comptroller took possession of its assets and property and closed its doors, and shortly thereafter reported his action to the Attorney General of the state. No further action was taken with respect to winding up the affairs of the bank by the state authorities, but the comptroller remained in…
1Opinion of the Court
PATTEE, Superior Judge
(After Stating the Pacts as Above). — The complaint in this action contains four counts, based upon different theories of the rights of the plaintiff. It is first claimed that the indebtedness upon which judgment was recovered was an obligation appearing upon the books and records of the Valley Bank of Phoenix on December 31, 1914, and, by the terms of the contract transferring the assets of that corporation to the Valley Bank, was assumed and agreed to be paid by the latter bank. The court below so found, and it is assigned as error that such finding is wholly…
2Cases cited21 opinions
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