Security Bank & Trust Co. v. Todd
Mississippi Supreme Court
Security Bank & Trust Co. v. Todd, 118 Miss. 575 (Miss. 1918)
79 So. 560
Security Bank & Trust Co. v. Todd
Opinion of the Court
Upon a reconsideration of the matter, we are of the opinion that the court below should have allowed appellant credit for the expenses necessarily incurred by it in collecting the several collateral notes amounting to the sum of three • hundred fifty-four dollars and twenty-two cents, so that to that extent the suggestion of error will be sustained, the judgment heretofore rendered will be set aside, and the decree of the lower court modified accordingly-
Sustained in part.
Reference
- Full Case Name
- Security Bank & Trust Co. of Memphis, Tenn. v. Todd
- Cited By
- 1 case
- Status
- Published
- Syllabus
- Banks and Banking. Expense of collecting collateral. Where the indebtedness of a bank to a trust company was evidenced by a promissory note and open account secured by notes deposited as collateral security in the adjustment of the accounts between them, the receiver of the bank was entitled only to the net amount of the sums realized on the collection of the collaterals after deducting the necessary expenses for collecting the same.