National Bank of Commerce at Hugo v. Whitten

This is an action by the alleged assignee of a number of cestuis que trustent against a bank to recover the trust funds on deposit in said bank. Verdict and judgment were for plaintiff, and defendant appeals.

The record discloses that one Mrs. King conducted a business in the city of Hugo where as a factor she sold livestock for various owners at auction. On April 18, 1939, she conducted one of such sales, and on the 19th and 20th of said month she deposited the proceeds to the credit of her general deposit account in defendant bank. At that time the bank held certain of Mrs. King’s checks…