Smith v. American National Bank of Wausau

The plaintiff contends that the deposit in his general account with the defendant bank was a trust fund, the funds in which were allocated by him to the several clients to whom they belonged, and was therefore a special as distinguished from a general deposit, and not applicable by the defendant bank to payment of or offset against his personal indebtedness to the bank. He claims that the bank had notice that the funds were a special deposit, and not subject to offset against his personal indebtedness, because, as. he claims, he informed the cashier of “the purpose to be achieved” by the two…