United States Fidelity Co. v. First State Bank
Mississippi Supreme Court
Appeal from the chancery court of Calhoun county. Hon. J. G. McGowan, Chancellor. Suit by the United States Fidelity & Guarantly Company against the First State Bank, S. S. Harris, receiver, and others in which certain parties filed cross-hills. From the judgment rendered, plaintiff appeals.
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Appeal from the chancery court of Calhoun county. Hon. J. G. McGowan, Chancellor. Suit by the United States Fidelity & Guarantly Company against the First State Bank, S. S. Harris, receiver, and others in which certain parties filed cross-hills. From the judgment rendered, plaintiff appeals. In 1914 the First State Blank of Pittsboro, being a corporation under the laws of Mississippi, desiring to become a depository of the county of Calhoun, under the laws of the state made its bid for the public money as a county depository, but was unable to make the depository bond on its own financial…
1Opinion of the CourtEthridge, J.
(After stating the facts as above). This appeal presents the following questions for decision in this case: First. Did the surrender of the notes held by G-. W. Cole to the First State Bank as a payment on the bonds constitute a payment in law, or is he liable for the amount of said notes? Second. Is the United States Fidelity & Guaranty Company entitled to subrogation' to such liability as may exist against Mr. Cole by virtue of its payment of the funds due to the county? Third. Is the National City Bank liable to the United States Fidelity & Guaranty Company under its contract for the…
2Cases cited12 opinions
- Logan County National Bank v. TownsendSupreme Court of the United States · 1891
- Citizens' Central Nat. Bank of NY v. AppletonSupreme Court of the United States · 1910
- Wyman v. WallaceSupreme Court of the United States · 1906
- First National Bank v. HenrySupreme Court of Alabama · 1905
- First Nat. Bank of Grand Forks v. AndersonSupreme Court of the United States · 1899
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3Cited by2 opinions
- American Surety Co. v. Philippine National BankNew York Court of Appeals · 1927
- Cole's Estate v. Receiver First State Bank of PittsboroMississippi Supreme Court · 1919