Daniels v. Bank of Zumbrota
Supreme Court of Minnesota
The plaintiff, as receiver in insolvency of the estates of William S. Wells and William B. Dickey, brought this action in the district court, for Goodhue county, to set aside a transfer of stock of the Northwestern Land Company, made by the insolvents to the defendant the Bank of Zumbrota, as security for indebtedness due from Wells to-the bank, and for the purpose, as alleged by plaintiff, of giving the bank a preference over Wells’s other creditors.
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The plaintiff, as receiver in insolvency of the estates of William S. Wells and William B. Dickey, brought this action in the district court, for Goodhue county, to set aside a transfer of stock of the Northwestern Land Company, made by the insolvents to the defendant the Bank of Zumbrota, as security for indebtedness due from Wells to-the bank, and for the purpose, as alleged by plaintiff, of giving the bank a preference over Wells’s other creditors. By consent of' parties, there was submitted to a jury the single question of fact,, whether the bank, when it received the transfer, had…
1Opinion of the CourtMitchell, J.
The decision of this case is controlled by Daniels v. Palmer, ante, p. 347, (decided at the present term,) the record disclosing the same error in the instruction of the court to the jury as to what constitutes insolvency within the meaning of Laws 1881, c.. 148.
The appellant also assigns as error the refusal of the court to charge the jury that “the Bank of Zumbrota was required to exercise ordinary prudence in respect to the transfer of stock to it, and, if its. officers failed to investigate when put upon inquiry, it is chargeable with all the knowledge which it is reasonable to suppose…
2Cases cited4 opinions
- Grant v. National BankSupreme Court of the United States · 1878
- Dutcher v. WrightSupreme Court of the United States · 1877
- Buchanan v. SmithSupreme Court of the United States · 1873
- Barbour v. PriestSupreme Court of the United States · 1881
3Cited by6 opinions
- Kells v. WebsterSupreme Court of Minnesota · 1898
- Manwaring v. O'BrienSupreme Court of Minnesota · 1899
- Bliss v. DotySupreme Court of Minnesota · 1886
- Thompson v. JohnsonSupreme Court of Minnesota · 1893
- Hastings Malting Co. v. HellerSupreme Court of Minnesota · 1891
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