Merchants' Bank v. McClelland
Supreme Court of Colorado
Appeal from, District Court of Clear Creek County. In 1882 one Orrin Skinner, on various false and fraudulent pretenses, obtained large sums of money from several banks in Georgetown, Idaho Springs, and other places, by getting cash on drafts which were returned unpaid. On the 26th day of October of that year, Skinner obtained from the Bank of Idaho Springs, of which McClelland, the appellee, was cashier, the sum of $2,500, by presenting a draft on Cummings & Oo., New York.
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Appeal from, District Court of Clear Creek County. In 1882 one Orrin Skinner, on various false and fraudulent pretenses, obtained large sums of money from several banks in Georgetown, Idaho Springs, and other places, by getting cash on drafts which were returned unpaid. On the 26th day of October of that year, Skinner obtained from the Bank of Idaho Springs, of which McClelland, the appellee, was cashier, the sum of $2,500, by presenting a draft on Cummings & Oo., New York. About the 30th of the same month, McClelland learned by telegraph that this draft was protested. He at once instituted…
1Opinion of the CourtHelm, J.
The Bank of Idaho Springs was not a corporation. It was simply a partnership, composed of several individuals who contributed their money or labor to the enterprise. Plaintiff was one of the partners, having invested his own money in the undertaking. He was also the cashier. He had the custody of the funds, likewise the general management and control. He alone authorized loans and discounts, and transacted all of the *610business. In his name, as cashier, contracts were habitually made for the-bank.
Section 5, Code Civil Procedure, provides that the trustee of an express trust, though not the real…
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