Brown v. Roberts

On September 11, 1917, plaintiff placed $9,000 on time deposit in the Cascade Bank of Great Falls, and received a certificate payable on its return “6 — 12 months after date, with 4 per cent interest. No interest after maturity.” This certificate was not presented for payment at maturity, or at all. On February 11, 1920, the Cascade Bank transferred all of its assets to the American Bank & Trust Company, under an agreement that the latter would assume all liabilities of the former. The Cascade Bank has not at any time since either functioned or possessed funds or assets for the payment of its…