Ferguson v. State Bank of West Pullman

Appellate Court of Illinois

Ferguson v. State Bank of West Pullman

209 Ill. App. 169

CourtAppellate Court of Illinois

DecidedDecember 21, 1917

DocketGen. No. 22,903

StatusPublished

This text of 209 Ill. App. 169 (Ferguson v. State Bank of West Pullman) is published on Counsel Stack Legal Research, covering Appellate Court of Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ferguson v. State Bank of West Pullman, 209 Ill. App. 169 (Ill. Ct. App. 1917).

Pincite

Opinion

Mr. Presiding Justice Barnes

delivered the opinion of the court.

Abstract of the Decision. Bonds, § 23*—when hank is not innocent purchaser of bond without notice. Where a depositor in a bank purchased a certain negotiable bond with funds of her deposit account, the president of the bank acting as her representative in the transaction and the cashier of the bank as the fiscal agent of the bank" and a few days later the president negotiated a sale of the bond to the hank, the cashier again acting as the fiscal agent of the bank in the transaction, and the cashier failed to make inquiry as to the president’s authority to sell the bond to the hank, the bank was not an innocent purchaser without notice.

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Mr. Presiding Justice Barnes

delivered the opinion of the court.

Abstract of the Decision. Bonds, § 23*—when hank is not innocent purchaser of bond without notice. Where a depositor in a bank purchased a certain negotiable bond with funds of her deposit account, the president of the bank acting as her representative in the transaction and the cashier of the bank as the fiscal agent of the bank" and a few days later the president negotiated a sale of the bond to the hank, the cashier again acting as the fiscal agent of the bank in the transaction, and the cashier failed to make inquiry as to the president’s authority to sell the bond to the hank, the bank was not an innocent purchaser without notice.

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Bluebook (online)

209 Ill. App. 169, Counsel Stack Legal Research, https://law.counselstack.com/opinion/ferguson-v-state-bank-of-west-pullman-illappct-1917.