Merchants' Bank of Valdosta v. Baird
Court of Appeals for the Eighth Circuit
In Error to the Circuit Court of the United States for the District of Minnesota. The Merchants’ Bank of Valdosta sued the receiver of the First National Bank of Faribault to recover upon eight checks drawn by the Minnesota Lumber Company upon the latter bank, and cashed by the former upon the authority of a letter and two telegrams. The case was tried by the court upon the pleadings and an agreed statement of facts.
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In Error to the Circuit Court of the United States for the District of Minnesota. The Merchants’ Bank of Valdosta sued the receiver of the First National Bank of Faribault to recover upon eight checks drawn by the Minnesota Lumber Company upon the latter bank, and cashed by the former upon the authority of a letter and two telegrams. The case was tried by the court upon the pleadings and an agreed statement of facts. The defendant had judgment, and the plaintiff prosecuted this writ of error. The facts are substantially as follows: At the time of the transactions in question the plaintiff was…
1Opinion of the CourtHook, Circuit Judge
(after stating the facts as above). It was known to both the National Bank and the lumber company that the credit and resources of the former were being used to uphold and further a venture in which it could not lawfully engage. But, the question remains:. How did it appear to the Georgia bank ? Did it have the aspect of legitimate banking business or of a guaranty for another? The letter of September 6, 1904, purported to obligate the National Bank unconditionally to pay all checks of the lumber company up to the amount of $5,000 in any one week. No limitation was expressed in the letter…
2Cases cited6 opinions
- Merchants' Bank v. State BankSupreme Court of the United States · 1871
- California Bank v. KennedySupreme Court of the United States · 1897
- McCormick v. Market BankSupreme Court of the United States · 1897
- Commercial Nat. Bank v. PirieCourt of Appeals for the Eighth Circuit · 1897
- Bowen v. Needles Nat. BankCourt of Appeals for the Ninth Circuit · 1899
1 more not listed; retrieve them via the Exa API.
3Cited by32 opinions
- Federal Intermediate Credit Bank of Omaha v. L'HerissonCourt of Appeals for the Eighth Circuit · 1929
- Border Nat. Bank v. American Nat. BankCourt of Appeals for the Fifth Circuit · 1922
- Sponge Exch. Bank v. Commercial Credit Co.Court of Appeals for the Fifth Circuit · 1920
- Drovers' & Mechanics' Nat. Bank of Baltimore v. First Nat. Bank of SuttonCourt of Appeals for the Fourth Circuit · 1919
- Ellis v. Citizens' National BankNew Mexico Supreme Court · 1918
27 more not listed; retrieve them via the Exa API.