Hayward v. National Bank
Supreme Court of the United States
Appeal from the Circuit Court of the United States for the District of Massachusetts. In the year 1863, Hayward, “ for the purpose of opening a credit with the Eliot Bank/’ deposited certain securities with it, giving it power to transfer the same, as well as any bullion, coin, or other securities Which he might thereafter' deposit, and expressly waiving “ all and every objection to the manner in which said securities may be sold, whether at public or private sale, or at the…
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Appeal from the Circuit Court of the United States for the District of Massachusetts. In the year 1863, Hayward, “ for the purpose of opening a credit with the Eliot Bank/’ deposited certain securities with it, giving it power to transfer the same, as well as any bullion, coin, or other securities Which he might thereafter' deposit, and expressly waiving “ all and every objection to the manner in which said securities may be sold, whether at public or private sale, or at the board of brokers, without any demand or notice whatever:” Subsequently, the bank was converted into a national banking…
1Opinion of the CourtJustice Harlan
This bill seems to have been prepared upon the supposition that the bank held and owned the nine hundred shares of stock in the Calumet and Hecla Mining Company at the commencement of this action. It is evident, however, that the bank’s connection with the stock ceased Sept. 8, 1868, when it was sold to- three of the bank directors. After that date, the purchasers claimed and controlled the stock as their individual property, paid all assessments laid, and received all dividends declared. The evidence shows that the sale to them was absolute and unconditional; and the title which then…
2Cases cited4 opinions
- Twin-Lick Oil Co. v. MarburySupreme Court of the United States · 1876
- Badger v. BadgerSupreme Court of the United States · 1865
- Hobson v. Heirs of McArthurSupreme Court of the United States · 1842
- Strange v. WatsonSupreme Court of Alabama · 1847
3Cited by132 opinions
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- Patterson v. HewittSupreme Court of the United States · 1904
- Robert I. Powell v. Eugene M. ZuckertCourt of Appeals for the D.C. Circuit · 1966
- Ronald J. Cornetta v. The United States of America and John Lehman, Secretary of the NavyCourt of Appeals for the Federal Circuit · 1988
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