Commonwealth v. Reading Savings Bank
Massachusetts Supreme Judicial Court
Petition in equity, filed June 4, 1879, by Paulina Gerry, alleging that the petitioner was the owner of a certain promissory note for $5000, given by Nathan P. Pratt to Ira Gerry, that she was also the owner of a mortgage and note assigned to Gerry by Pratt as collateral security for the payment of the first-named note; that no part of said note for $5000 has been paid; that Pratt was late the treasurer of the respondent bank; that he was elected to that office on July 23,…
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Petition in equity, filed June 4, 1879, by Paulina Gerry, alleging that the petitioner was the owner of a certain promissory note for $5000, given by Nathan P. Pratt to Ira Gerry, that she was also the owner of a mortgage and note assigned to Gerry by Pratt as collateral security for the payment of the first-named note; that no part of said note for $5000 has been paid; that Pratt was late the treasurer of the respondent bank; that he was elected to that office on July 23, 1869, and thereupon gave a bond to the bank conditioned to secure the faithful performance of the duties of the office, “…
1Opinion of the CourtColt, J.
The treasurer of the Reading Savings Bank, upon his appointment in 1869, gave bond conditioned to secure the faithful performance of all the duties of his office “ while and so long as he acts as treasurer of said company.” This bond was secured by a mortgage of his real estate, which the petitioner as second mortgagee asks to have discharged, contending that there was no breach of the condition of the treasurer’s bond, because the office to which he was chosen expired at the end of the first year, and the conditions of the bond during that year were all fulfilled.
The statute provides that…
2Cases cited1 opinion
- City of Cambridge v. FifieldMassachusetts Supreme Judicial Court · 1879
3Cited by6 opinions
- Snattinger v. City of TopekaSupreme Court of Kansas · 1909
- Trustees of the Richardson School Fund in Attleborough v. DeanMassachusetts Supreme Judicial Court · 1881
- Merchants Bank v. HoneySupreme Court of Kansas · 1897
- Stevens v. OrtonNew York Supreme Court · 1896
- Webster v. JossmanMichigan Supreme Court · 1917
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