Guarantee Co. of North America v. Mechanics' Sav. Bank & Trust Co.
Court of Appeals for the Sixth Circuit
Appeal from the Circuit Court of the United States for the Eastern District of Tennessee. This was a bill in equity filed in the chancery court of Davidson county, Tenn., by the assignee for the benefit of creditors of the Mechanics’ Savings Bank & Trust Company against the Union Bank & Trust Company, administrator of John Schardt, deceased, a corporation of Tennessee, and the Guarantee Company of North America, a corporation of Canada, to state an account between the bank…
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Appeal from the Circuit Court of the United States for the Eastern District of Tennessee. This was a bill in equity filed in the chancery court of Davidson county, Tenn., by the assignee for the benefit of creditors of the Mechanics’ Savings Bank & Trust Company against the Union Bank & Trust Company, administrator of John Schardt, deceased, a corporation of Tennessee, and the Guarantee Company of North America, a corporation of Canada, to state an account between the bank and John Schardt, its deceased cashier and teller, to obtain a decree properly applying certain credits to the debt in…
1Opinion of the CourtHammond, J.
(after stating the facts). The first question which arises on this record is one of jurisdiction. Was there a separable controversy between the plaintiff, a citizen of Tennessee, and the guarantee company, an alien corporation? The contracts upon which the action was founded were somewhat different in form. In the bond for Schardt as cashier there is no provision by which Schardt assumes an obligation directly to the bank for his own defalcations. He seems to be made a party merely that he may enter into certain obligations to the guarantee company in case of his defalcation. It can hardly be…
2Cases cited24 opinions
- Imperial Fire Insurance v. Coos CountySupreme Court of the United States · 1894
- Martin's Administrator v. Baltimore & Ohio RailroadSupreme Court of the United States · 1894
- Thompson v. Phenix InsuranceSupreme Court of the United States · 1890
- Moulor v. American Life InsuranceSupreme Court of the United States · 1884
- Oelrichs v. SpainSupreme Court of the United States · 1872
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3Cited by53 opinions
- Bowers v. Lawyers Mortgage Co.Supreme Court of the United States · 1932
- Handley-Mack Co. v. Godchaux Sugar Co.Court of Appeals for the Sixth Circuit · 1924
- Bailey v. Texas Co.Court of Appeals for the Second Circuit · 1931
- N. K. Fairbank Co. v. Luckel, King & Cake Soap Co.Court of Appeals for the Ninth Circuit · 1900
- Remington v. Fidelity & Deposit Co.Washington Supreme Court · 1902
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