Lela Avant v. Banking Commissioner

Texas Supreme Court

Lela Avant v. Banking Commissioner

278 S.W. 1101, 115 Tex. 167, 1926 Tex. LEXIS 124

CourtTexas Supreme Court

DecidedJanuary 6, 1926

DocketApplication No. 14383.

StatusPublished

This text of 278 S.W. 1101 (Lela Avant v. Banking Commissioner) is published on Counsel Stack Legal Research, covering Texas Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Lela Avant v. Banking Commissioner, 278 S.W. 1101, 115 Tex. 167, 1926 Tex. LEXIS 124 (Tex. 1926).

Pincite

Opinion

PER CURIAM.

The deposit in this case in its inception was an interest-bearing deposit, and while by the expiration of time it may have ceased to bear interest for' such additional time as the money was left in the bank, yet the interest agreed upon for the specified time was compensation for such time as the money was left in the bank under the contract. The character of- the contract was never changed. The'certificate was not subsequent to the time it ceased to bear interest presented to the bank and a new deposit contract created. It is clear therefore that the deposit was not a noninterest-bear-ing deposit. The writ of error is accordingly refused.

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PER CURIAM.

The deposit in this case in its inception was an interest-bearing deposit, and while by the expiration of time it may have ceased to bear interest for' such additional time as the money was left in the bank, yet the interest agreed upon for the specified time was compensation for such time as the money was left in the bank under the contract. The character of- the contract was never changed. The'certificate was not subsequent to the time it ceased to bear interest presented to the bank and a new deposit contract created. It is clear therefore that the deposit was not a noninterest-bear-ing deposit. The writ of error is accordingly refused.

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Bluebook (online)

278 S.W. 1101, 115 Tex. 167, 1926 Tex. LEXIS 124, Counsel Stack Legal Research, https://law.counselstack.com/opinion/lela-avant-v-banking-commissioner-tex-1926.