German Baptist Orphans' Home v. Union Banking Co.

RAYMOND, District Judge.

Defendants have filed a motion, based upon several grounds, to dismiss the declaration. The principal reason for dismissal urged is that the contract to repurchase bonds set forth in the declaration and upon which plaintiff relies in its bill of particulars is void because it is against the public policy of the state of Michigan for banks to enter into such an agreement.

The declaration alleges in substance that plaintiff is a Kentucky corporation organized for the care of orphan children; that defendant the Union Banking Company, a corporation organized under the laws…