Cragie v. . Hadley
New York Court of Appeals
Appeal from judgment of the General Term of the Superior Court of Buffalo, entered upon an order made April 19, 1884, which affirmed a judgment in favor of plaintiffs, entered upon the report of a referee. This action was brought originally against the members of the firm of Brown Brothers & Go., to recover the proceeds of certain drafts deposited by plaintiffs with the.
Read the full summary
Appeal from judgment of the General Term of the Superior Court of Buffalo, entered upon an order made April 19, 1884, which affirmed a judgment in favor of plaintiffs, entered upon the report of a referee. This action was brought originally against the members of the firm of Brown Brothers & Go., to recover the proceeds of certain drafts deposited by plaintiffs with the. First ¡National' Bank of Buffalo, and sent by it to said firm for collection, and which were collected by it. By order of interpleader the original defendants were discharged upon payment of the money into court, and the…
1Opinion of the CourtAndrews, J.
The general doctrine that upon a deposit being made by a customer, in a bank, in the ordinary course of business, of money, or of drafts or checks received and credited as money, the title to the money, or to the drafts or, checks, is immediately vested in and becomes the property of the bank, is not open to question. (Commercial Bank of Albany v. Hughes, 17 Wend. 94; Metropolitan Nat. Bank v. Loyd, 90 N. Y. 530.) The transaction in legal effect is a transfer of the money, or drafts or checks, as the case may be, by the customer to the bank, upon an implied contract on the part of the latter…
2Cases cited4 opinions
- Holden v. . New York and Erie BankNew York Court of Appeals · 1878
- Commercial Bank v. HughesNew York Supreme Court · 1837
- Metropolitan National Bank of New York v. LoydNew York Court of Appeals · 1882
- AnonymousNew York Court of Appeals · 1876
3Cited by131 opinions
- Burton v. United StatesSupreme Court of the United States · 1905
- Kirschner v. KPMG LLPNew York Court of Appeals · 2010
- St. Louis & San Francisco Railway Co. v. JohnstonSupreme Court of the United States · 1890
- Corrigan v. . Bobbs-Merrill Co.New York Court of Appeals · 1920
- Board of Com'rs v. StrawnCourt of Appeals for the Sixth Circuit · 1907
126 more not listed; retrieve them via the Exa API.