Bank of Guntersville v. Crayter
Supreme Court of Alabama
Appeal from Marshall Chancery Court. Heard before Hon. James E. Horton, Jr. Suit between the Bank of Guntersville and Earl M. Crayter. From a decree in favor of Crayter, the bank appeals. This is a contest in chancery between the appellant bank and the appellee as to moneys or funds deposited in the bank by one J. L. Burke, an agent of appellee, and who was also a debtor of, and depositor in, the appellant bank.
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Appeal from Marshall Chancery Court. Heard before Hon. James E. Horton, Jr. Suit between the Bank of Guntersville and Earl M. Crayter. From a decree in favor of Crayter, the bank appeals. This is a contest in chancery between the appellant bank and the appellee as to moneys or funds deposited in the bank by one J. L. Burke, an agent of appellee, and who was also a debtor of, and depositor in, the appellant bank. The funds were deposited by Burke in the bank, the deposit being entered in the name of “J. L. Burke, Agent,” and a part thereof was drawn out on checks signed, “J. L. Burke, Agent,”…
1Opinion of the CourtMayfield, J.
We are of the opinion that the chancellor found and decreed correctly.(1) The bank was clearly chargeable with notice that the funds deposited by Burke were deposited by him in his capacity of agent for another, though the account was entered simply as that of “J. L. Burke, Agent.”(2) The strict rules of pleading or of commercial law should . not be applied to a proceeding like this in a court of equity, where *601no bona fide purchaser is concerned. The bank either knew absolutely or was chargeable with notice that the moneys or funds so deposited by Burke were not the property of Burke, but…
2Cases cited3 opinions
- Lehman Bros. v. Tallassee Manufacturing Co.Supreme Court of Alabama · 1879
- Batson v. Alexander City BankSupreme Court of Alabama · 1912
- Birmingham National Bank v. MayerSupreme Court of Alabama · 1894
3Cited by17 opinions
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- King v. PorterSupreme Court of Alabama · 1935
- Get It Kwik of America, Inc. v. FIRST ALA. BANK, ETC.Court of Civil Appeals of Alabama · 1978
- Franklin Trust Co. of PhiladelphiaSupreme Court of Pennsylvania · 1935
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