Wm. Ryan & Sons v. Paine
Mississippi Supreme Court
Wm. Ryan & Sons v. Paine, 66 Miss. 678 (Miss. 1889)
Campbell
Wm. Ryan & Sons v. Paine
Opinion of the Court
delivered the opinion of the court.
A corollary from the legal propositions conceded by counsel for the appellees to be well established by authority, is that the complainants are entitled to impress a trust on so much of the assets of the bank in the hands of the receiver as consists of the debt from Honea incurred by his check on the bank for the sum due com
Reversed and remanded.
Afterward R. E. Houston and Olifton & Eehford, for appellees, filed a suggestion or error, which was
Overruled.
Reference
- Full Case Name
- Wm. Ryan & Sons v. R. Paine, Receiver
- Cited By
- 5 cases
- Status
- Published
- Syllabus
- Trust Fund. Chancery. Bank Charging assets with collection. R. A. Honea, of Aberdeen, Miss., was indebted to appellants, Ryan & Sons, of Dubuque, Iowa, who drew on him through the bank of Gattman & Co., at Aberdeen, “ for collection.” Honea being a customer', although his account was overdrawn, gave his check on the bank as cash and took up the draft. The bank then sent its New York check to appellants, which was protested. Meantime Gattman & Co. had failed and appellee was appointed receiver of the assets. Honea paid n® money, but he was solvent and the check was charged to him by the bank. Held, that Ryan & Sons in equity were entitled to impress a trust on so much of the assets of the hank in the hands of the receiver as consisted of the debt from Honea incurred by the cheek for the sum due complainants.