State ex rel. Sorensen v. Farmers State Bank
State ex rel. Sorensen v. Farmers State Bank
Opinion of the Court
The appellant, Leo E. Hahn, in the trial court sought to have the assets of the failed Farmers State Bank of Polk impressed with a trust for the amount of a claimed special deposit made by him, and for priority of payment out of such assets. His request was denied, and he appeals.
The only error assigned is that the court erred in finding and holding that the claim of the appellant was a general deposit and not a trust fund entitled to priority payment from the assets of the bank.
The facts involved, as shown by the record, are, in substance, as follows: On August 18, 1928, Hahn executed and delivered to the aforesaid bank his promissory note for $600, which had been thereafter by such bank negotiated to the Harvard State Bank. Later, Hahn, in payment for some stock, bought by him from the Blain Live Stock Company, had given it a check, drawn on his checking account in such •Farmers State Bank, for the sum of $2,478. Hahn then obtained from his father a'loan of $3,000, for which amount his father gave him his two checks, one for $2,000 and another for $1,000. Hahn then took these checks to the Farmers State Bank, of which he was a stockholder and director, and asked that he be given credit for the two checks. This was done at the time by the cashier making out in Hahn’s
The whole transaction is without a showing of fraud or deception. Further, the record does not reflect facts which would give to Hahn a right superior to, or different from, that of any ordinary general depositor.
The judgment of the trial court is '
Affirmed.
Reference
- Full Case Name
- State, ex rel. C. A. Sorensen, Attorney General v. Farmers State Bank of Polk, appellees: Leo E. Hahn
- Status
- Published