BANKS AND BANKING - PRIORITIES ON INSOLVENCY OF BANK

Authors

Abstract

Plaintiff, clerk of court, deposited in a reputable bank a compensation award known by the bank to be such, pending review in an appropriation proceeding. On the insolvency of the bank, plaintiff sued for the immediate payment of the deposit in full, claiming a preference because: (a) "a special deposit, constituting a trust, was created"; (b) the unauthorized and, consequently, unlawful deposit-of any trust fund in a bank which knows the nature of the fund impresses a trust on the bank. Held, plaintiff was not entitled to a preference over the other depositors in the bank. Busher v. Fulton, (Ohio 1934) 191 N. E. 752.

Recommended Citation

BANKS AND BANKING - PRIORITIES ON INSOLVENCY OF BANK, 33 Mich. L. Rev. 628 (1935).
Available at: https://repository.law.umich.edu/mlr/vol33/iss4/9