Mechanics' Bank v. Schaumburg
Supreme Court of Missouri
Appeal from Si. Louis Common Pleas Court. I. Notice to the president was notice to the bank; or to state the proposition more broadly, the fraud of the president, in matters which came within the line of his business as an officer of the bank, was the fraud of the bank. ■ It was to the interest of the bank to secure the debt due by Wills to the corporation.
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Appeal from Si. Louis Common Pleas Court. I. Notice to the president was notice to the bank; or to state the proposition more broadly, the fraud of the president, in matters which came within the line of his business as an officer of the bank, was the fraud of the bank. ■ It was to the interest of the bank to secure the debt due by Wills to the corporation. It was the duty of the president, in'his general surveillance of the affairs of the bank, to see that all debts due the bank were secured, and if, in attempting this, be practised a fraud upon the defendants, it is tlie fraud of the bank,…
1Opinion of the CourtHolmes, Judge
The case is presented here mainly upon questions arising upon the instructions. In order to determine these matters, it will be necessary to consider the state of facts and the nature of the case upon which the ruling of the court below was predicated'. The most material facts may be stated sufficiently for all the pui’poses of a decision on the points raised, nearly as follows:
John W. Wills, president of the Mechanics’ Bank, had been also acting as the agent and attorney in fact of Orleana C. Schaumburg, and of Martha A. Wills, for several years, under separate and distinct letters of…
2Cases cited2 opinions
- Olcott v. . Tioga Railroad CompanyNew York Court of Appeals · 1863
- Rossiter v. RossiterNew York Supreme Court · 1832
3Cited by21 opinions
- First National Bank v. GaySupreme Court of Missouri · 1876
- Hickman v. GreenSupreme Court of Missouri · 1894
- Hayward, Assignee v. National InsuranceSupreme Court of Missouri · 1873
- Nichols, Shepherd & Co. v. LarkinSupreme Court of Missouri · 1883
- Kregain v. BlakeSupreme Court of Missouri · 1922
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