Vassar v. Smith

This case is here on appeal from an order dated February 17, 1937, entered by the Circuit Court of St. Lucie County, Florida. The order sustained a motion to dismiss a counterclaim. The question for decision here is: may a bank, to retain or obtain general deposits of private funds, pledge its assets for the security of such deposits? The fads set up in the counterclaim and stricken by an order of the court, are, viz.: On or about November 16,1931, W. E. Vassar was Successor-Trustee for San Lucie Plaza Corporation, and Successor-Trustee for the T. F. Faulkner Trust, and as Trustee for said…