Briggs Commercial & Development Co. v. Finley

I think the judgment should be affirmed.

Wholly aside from the views expressed in Brown v. Union Banking Co., 274 Mich. 499, I find no trace of a public policy applicable here. There was no statute expressly prohibiting the transaction and which would be nullified if any semblance of recovery were permitted the plaintiff on any theory, as was the situation in Awotin v. Atlas Exchange National Bank of Chicago, 295 U. S. 209 (55 Sup. Ct. 674), where there was a sale of bonds with agreement to repurchase in direct violation of the national banking law.

The Union Guardian Trust Company received an…