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Full-Text Articles in Banking and Finance Law
Rights Of Withdrawing Shareholder In Building & Loan Association
Rights Of Withdrawing Shareholder In Building & Loan Association
Indiana Law Journal
Notes and Comments: Insolvent Estates
Banks And Banking -Trusts - Right Of Bank To Sell Participating Trust Certificates In Self-Owned Property, Michigan Law Review
Banks And Banking -Trusts - Right Of Bank To Sell Participating Trust Certificates In Self-Owned Property, Michigan Law Review
Michigan Law Review
In 1923 the trust company entered into a transaction with the land company by which the land company borrowed $130,000 with which it purchased a city property for slightly less than that amount and gave title to the trust company as security for the loan. Through a series of loans later negotiated the trust company came to have an investment of $150,000 in the property. In 1926 the trust company made an agreement with the land company pursuant to which the trust company declared itself trustee of the property at an appraised value almost fifty per cent above the purchase …
Some Problems Arising Out Of Deposits To Pay Principal And Interest On Bonds, Paul P. Lipton
Some Problems Arising Out Of Deposits To Pay Principal And Interest On Bonds, Paul P. Lipton
Michigan Law Review
Since Lawrence v. Fox contracts students have been puzzled by the numerous and varying relations that may arise when A, the debtor, delivers money to B to pay C, his creditor. Equally puzzling and much more complicated are the rights and relations of the obligor, trustee and bondholders with respect to sums deposited with the trustee to pay principal and interest on bonds.
The insolvency during recent years of many large trust companies that had been named as trustees in indentures securing corporate bonds, having on hand at the time of their failure large sums of money which …
Trusts -Tracing Principles Applicable Where Funds Of Two Or More Cestuis Are Wrongfully Commingled, Michigan Law Review
Trusts -Tracing Principles Applicable Where Funds Of Two Or More Cestuis Are Wrongfully Commingled, Michigan Law Review
Michigan Law Review
Public funds of a school district, of the village of Vassar, and of ten other municipalities were deposited in defendant bank without securing the deposit bond required by statute. After defendant bank had been declared insolvent, the school district intervened and sought to have the amount of its deposit impressed upon the cash assets of the bank as a trust, on the ground that the bank became a trustee ex maleficio. The total of the illegal deposits was greater than the cash on hand and the credits established in solvent correspondent banks at the time the receiver took over the …
Banks And Banking -Trust Funds - Deposits For A Special Purpose
Banks And Banking -Trust Funds - Deposits For A Special Purpose
Michigan Law Review
Plaintiff had an arrangement with defendant bank whereby receipts of certain of plaintiff's branch stores were to be deposited daily with defendant, and the latter was to transmit each day by draft to a bank in Pittsburgh for plaintiff's credit all sums in excess of a dormant balance of $2,000. Drafts covering two days' deposits were in process of transmission to the Pittsburgh bank when defendant bank was taken over by the Comptroller of the Currency. The deposits represented by these drafts were made at a time when defendant's officers and directors knew the bank to be insolvent, though negotiations …
Banks And Banking--Insolvency--Preference Against Trust Company Executor For Funds On Deposit At Testator's Death, George W. Mcquain
Banks And Banking--Insolvency--Preference Against Trust Company Executor For Funds On Deposit At Testator's Death, George W. Mcquain
West Virginia Law Review
No abstract provided.
Trusts - Tracing Of Assets - Preference
Trusts - Tracing Of Assets - Preference
Michigan Law Review
Public funds were unlawfully deposited in the insolvent bank. At the time the bank closed the cash in its own vault was less than the amount of public funds deposited but it did have, at the time of closing and at all times before, deposits in correspondent banks which, taken with the cash in its own vault, exceeded the amount of the public funds unlawfully deposited. Held, that the unlawful deposit of the public funds, the bank knowing them to be public funds, created a trust of those funds in the hands of the bank, which trust was impressed …
Trusts -- Self-Dealing Of The Trustee -- Right To Look Through The Corporate Entity
Trusts -- Self-Dealing Of The Trustee -- Right To Look Through The Corporate Entity
Michigan Law Review
One Northrop was appointed by the court as guardian, receiving $2,500 which he deposited in defendant bank of which he was the president, the general manager, and of which he was in complete control. Subsequently he exchanged this deposit for a mortgage owned by the bank. The bank became insolvent, and plaintiff, as substituted trustee, brought this action to have a preference adjudged out of the bank's assets in favor of the ward. Held, plaintiff could ignore the mortgage transaction but could only claim as a general creditor of the bank. Ottawa Banking and Trust Co. v. Crookston State …
Failed Banks, Collection Items, And Trust Preferences, George Gleason Bogert
Failed Banks, Collection Items, And Trust Preferences, George Gleason Bogert
Michigan Law Review
About 1,200 banks failed in the United States during the year 1930, and failures for the years 1921-1929 averaged over 600 a year. Each of these bank failures doubtless involved several problems regarding collection items. In each case it was almost inevitable that there should be found among the assets in the hands of the defunct bank several items held for collection but not yet collected, and also that a number of items should have been collected but no effective remittance made on account of such collection. There thus arose a series of controversies between the banks or individuals which …