Fourth Street Bank of Philadelphia v. Yardley
Supreme Court of the United States
CERTIFICATE FROM THE COURT OF APPEALS FOR THE THIRD CIRCUIT. By a bill filed in the Circuit Court of the United States for the Eastern District of Pennsylvania, appellant sought to subject moneys in the hands of the' receiver of the Keystone National Bank to the satisfaction of an alleged equitable charge or lien thereon. From a decree dismissing the bill an appeal was -taken to the Circuit Court of Appeals for the Third Circuit.
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CERTIFICATE FROM THE COURT OF APPEALS FOR THE THIRD CIRCUIT. By a bill filed in the Circuit Court of the United States for the Eastern District of Pennsylvania, appellant sought to subject moneys in the hands of the' receiver of the Keystone National Bank to the satisfaction of an alleged equitable charge or lien thereon. From a decree dismissing the bill an appeal was -taken to the Circuit Court of Appeals for the Third Circuit. The latter court, thereafter certified to this court two questions of law arising upon the facts stated, which facts are set out in- the margin hereof.1 The…
1Opinion of the CourtJustice White
As between a check holder and the bank upon which such check is drawn, it is settled that, unless the check be accepted by the. bank, an action cannot be maintained by the holder against the bank. Bank of Republic v. Millard, 10 Wall. 152; First National Bank v. Whitman, 94 U. S. 343.
It is also.settled that a check, drawn in the ordinary form, does not, as between the maker and payee, constitute an equitable assignment fro tanto of an indebtedness owing by the bank upon which the check has been drawn, and that the mere giving and receipt of the check does not entitle the holder to priority…
2Cases cited16 opinions
- Trist v. ChildSupreme Court of the United States · 1875
- Bank of the Republic v. MillardSupreme Court of the United States · 1870
- First Nat. Bank of Washington v. WhitmanSupreme Court of the United States · 1877
- Risley v. . Phenix Bank of City of New YorkNew York Court of Appeals · 1881
- Ketchum v. St. LouisSupreme Court of the United States · 1880
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3Cited by152 opinions
- Salem Trust Co. v. Manufacturers' Finance Co.Supreme Court of the United States · 1924
- Martin v. National Surety Co.Supreme Court of the United States · 1937
- Ingersoll v. CoramSupreme Court of the United States · 1908
- Hurley v. Atchison, Topeka & Santa Fe Railway Co.Supreme Court of the United States · 1909
- In re Interborough Consol. Corp.Court of Appeals for the Second Circuit · 1923
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