Brandenburg v. First National Bank
North Dakota Supreme Court
Action in District Court, Case County, Cooley, J. From a judgment of dismissal the plaintiff has appealed. National banks have power to receive special deposits and their officers have authority to bind the bank by agreements made in relation thereto. First Nat’l. Bank of Carlisle v. Graham, ioo U. S. 699; 25 D. ed. 750; 36 Am. Rep. 592; McCormick v. Market Nat’l. Bank; 165 U. S. 538; 41 L. ed. 817 Minn. Mutual Life Ins.
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Action in District Court, Case County, Cooley, J. From a judgment of dismissal the plaintiff has appealed. National banks have power to receive special deposits and their officers have authority to bind the bank by agreements made in relation thereto. First Nat’l. Bank of Carlisle v. Graham, ioo U. S. 699; 25 D. ed. 750; 36 Am. Rep. 592; McCormick v. Market Nat’l. Bank; 165 U. S. 538; 41 L. ed. 817 Minn. Mutual Life Ins. Co. v. Tagus, 34 N. D. 566; 158 N. YV. 1063; L.R.A. 1917A 319; Citizens Nat’l. Bank v. Davisson, 229 U. S. 213. The lending of money for its customers is an every day…
1Opinion of the Court
Statement.
Bronson, J.
This is an action to recover damages for fraud and deceit in the sale and negotiation of a real estate mortgage. The complaint alleges that the defendant, through deceitful and fraudulent practices, loaned $2,000 of plaintiff’s money, in its custody, upon a worthless real estate mortgage. The answer asserts that the transaction was a brokerage transaction and was ultra vires, under the National Banking Act (13 Stat. 99).
The action was submitted to a jury upon a special verdict comprising 56 questions. The verdict was favorable to the plaintiff. The plaintiff thereafter…
2Cases cited16 opinions
- National Bank v. GrahamSupreme Court of the United States · 1880
- Hindman v. First Nat. Bank of LouisvilleCourt of Appeals for the Sixth Circuit · 1902
- Zinc Carbonate Co. v. First National Bank of ShullsburgWisconsin Supreme Court · 1899
- Stewart v. WrightCourt of Appeals for the Eighth Circuit · 1906
- Citizens Nat. Bank of Roswell v. DavissonSupreme Court of the United States · 1913
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3Cited by2 opinions
- McCarthy v. Brockton National BankMassachusetts Supreme Judicial Court · 1943
- Caldwell v. First National Bank of LakefieldSupreme Court of Minnesota · 1925