Hall v. Bowker
Supreme Court of Vermont
Trustee PROCESS. The National Bank of Newbury and the First National Bank of St. Johnsbury severally appeared as claimants.
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Trustee PROCESS. The National Bank of Newbury and the First National Bank of St. Johnsbury severally appeared as claimants. A commissioner was appointed to take the disclosure of the trustee, and to hear and examine testimony, &c., in accordance with the General Statutes, chapter 34. The commissioner made his report at September term, 1870, and thereupon the court, Peck, J., presiding, pro forma, rendered judgment that the trustee is chargeable, to which said banks, as such claimants, were allowed to except, and their exceptions were allowed. The commissioner reported as follows : “ That on…
1Opinion of the Court
The opinion of the court was delivered by
Barrett, J.
It is assumed, upon the facts reported, that the claimant banks discounted and received the notes in question in good faith. It is found that it was done in the ordinary manner of doing business at the banks, and that the banks had no knowledge of the existence of the trustee process. The notes were underdue at the time of the discount, and payable to Bowker or bearer. In the hands of Cummings and as against him the notes were subject to the trustee process, by reason of notice not having been given by him to Webster of the transfer of the…
2Cited by2 opinions
- National Bank v. WebsterSupreme Court of Vermont · 1874
- Sargent v. WoodSupreme Court of Vermont · 1879