First National Bank v. Guardian Trust & Savings Bank
Washington Supreme Court
Appeal from a judgment of the superior court for King county, Ronald, J., entered March 22, 1920, upon granting a nonsuit, dismissing an action to recover funds alleged to belong to a bank through the fraud of an officer.
1Opinion of the CourtTolman, J.
For some years prior to September 25, 1917, one C. E. Thomas was the majority stockholder, a director, and president and chief executive officer of .the appellant bank! In the year 1916, Thomas made an arrangement with the respondent bank by which he, Thomas, might discount with the respondent commercial paper guaranteed by him personally, the proceeds to be placed to the credit of the appellant and retained by respondent until the discounted paper was paid. In March, 1917, Thomas so discounted a note made by one G. B. Colvin for $2,000, payable to him*232self and indorsed by him. In April, 1917,…
2Cases cited5 opinions
- Aldrich v. Chemical National BankSupreme Court of the United States · 1900
- Rankin v. City Nat. Bank of Kansas CitySupreme Court of the United States · 1908
- Cherry v. City Nat. Bank of Kansas CityCourt of Appeals for the Eighth Circuit · 1906
- Chemical Nat. Bank v. ArmstrongU.S. Circuit Court for the District of Southern Ohio · 1892
- Chemical Nat. Bank v. ArmstrongU.S. Circuit Court for the District of Southern Ohio · 1896