Henry v. Martin
Wisconsin Supreme Court
APPEAL from the Circuit Court for Chippewa County. The plaintiff sent money, to be loaned for him, to one Yesper Morgan. Morgan deposited the money in Seymour’s Bank, in the name of J. D. Morgan, with notice that it was the money of third parties. lie claims that at the time when the money was deposited the bank was insolvent, and that Seymour and his clerks knew that it was insolvent. 'Seymour failed, and assigned to the defendant for the benefit of his creditors.
Read the full summary
APPEAL from the Circuit Court for Chippewa County. The plaintiff sent money, to be loaned for him, to one Yesper Morgan. Morgan deposited the money in Seymour’s Bank, in the name of J. D. Morgan, with notice that it was the money of third parties. lie claims that at the time when the money was deposited the bank was insolvent, and that Seymour and his clerks knew that it was insolvent. 'Seymour failed, and assigned to the defendant for the benefit of his creditors. A small sum of money came to the hands of the assignee. The plaintiff claims to recover from the assignee his entire deposit on…
1Opinion of the CourtNewhah, J.
This case is ruled by Nonotuck Silk Co. v. Flanders, 87 Wis. 237. The plaintiff made no special deposit of his money in Seymours Bank. It was not expected that the identical money deposited would be kept and returned, nor is it claimed that it has been kept; nor that any part of the money found in the assignee’s hands is the identical money deposited. The deposit created the relation of debtor and creditor. The bank became the plaintiff’s debtor, not his bailee. The plaintiff’s relation to the assets of the bank in the hands of the assignee is in no wise different from the relation of the…
2Cases cited1 opinion
- Nonotuck Silk Co. v. FlandersWisconsin Supreme Court · 1894
3Cited by11 opinions
- Officer v. OfficerSupreme Court of Iowa · 1903
- Paul v. DraperSupreme Court of Missouri · 1900
- Bank Commissioners v. Security Trust Co.Supreme Court of New Hampshire · 1900
- Evangelical Synod of North America v. SohoeneichSupreme Court of Missouri · 1898
- Cherry v. Territory of OklahomaSupreme Court of Oklahoma · 1906
6 more not listed; retrieve them via the Exa API.