Safe Deposit & Trust Co. v. Diamond National Bank
Supreme Court of Pennsylvania
Safe Deposit & Trust Co. v. Diamond National Bank, 194 Pa. 334 (Pa. 1900)
44 A. 1064; 1900 Pa. LEXIS 389
Brown, Collum, Fell, Green, Mitchell, Pee
Safe Deposit & Trust Co. v. Diamond National Bank
Opinion of the Court
Upon the checks which were received by the administrator he had the undoubted right to draw the money and, if he chose, thereupon to deposit the money thus received to the credit of his own account, he had a perfect right to do so. What he did do was nothing more than the equivalent of such action on his part. The money having gone into his own account was subject to be drawn out upon his personal checks which the bank could not refuse to pay. The question is entirely different from the one which would arise if after the deposit was made it was claimed as money of the trust and the bank was notified of the claim before it was paid, but that is not this case.
Judgment affirmed.
Reference
- Full Case Name
- The Safe Deposit & Trust Company, Administrator d. b. n. c. t. a. of the Estate of John Wallace v. Diamond National Bank
- Cited By
- 11 cases
- Status
- Published
- Syllabus
- Banks and banking — Checks—Executors and administrators. Where checks are made payable or indorsed to an administrator, and he indorses the checks as administrator, and deposits them in his personal account in a bank in which he has no account as administrator, the proceeds of such checks are subject to be drawn out upon his personal checks, and, if misappropriated when so drawn out, the bank will not be liable fon the loss.