Legal Opinion
Illinois Trust & Savings Bank v. First Nat. Bank
District Court, N.D. New York
Decided March 16, 1883PublishedCited by 14 opinions
In Equity.
1Opinion of the CourtWallace, J.
The theory of this hill is that the receiver holds the proceeds of a certain draft for $6,527.75,'sent to the First National Bank of Buffalo by complainant for collection in April, 1882, charged with a trust to pay over the same to the complainant.
It may be assumed that the First National Bank of Buffalo was insolvent when it received the draft for collection; that its officers knew of the insolvency; and that the bank would be obliged to suspend within a day or two; and it may be further assumed that the bank received the draft merely as an agent to collect it of the drawers and remit the…
2Cases cited3 opinions
- Kip v. Bank of New-YorkNew York Supreme Court · 1813
- Bank of Commerce v. RussellU.S. Circuit Court for the District of Western Missouri · 1873
- In re JanewayDistrict Court, D. New Jersey · 1870
3Cited by14 opinions
- Mutual Accident Ass'n of the Northwest v. JacobsIllinois Supreme Court · 1892
- Ober & Sons Co. v. CochranSupreme Court of Georgia · 1903
- Hallam v. TillinghastWashington Supreme Court · 1898
- Wallace v. StoneMichigan Supreme Court · 1895
- Tyler County State Bank v. ShiversTexas Commission of Appeals · 1928
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