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Old Company’s Lehigh, Inc. v. Meeker, 294 U.S. 227 (1935)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Old Company’s Lehigh, Inc. v. Meeker, 294 U.S. 227 (1935)
Old Company’s Lehigh, Inc. v. Meeker No. 340 Argued January 17, 1935 Decided February 4, 1935 294 U.S. 227
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT
Syllabus
1. The payee of a promissory note sent it for collection to a national bank, named in the note as the place of payment and in which the maker had a deposit account in excess of the note. Two days before maturity, the maker delivered to the bank his check upon the account for the sum due on the note, and received back the note, which was surrendered as paid. Both knew that the bank was then insolvent, and, on the next business day, it was closed by the Comptroller of the Currency. Held that there was no ground for impressing a trust on the assets of the bank in favor of the payee. See Jennings v. U.S. Fidelity & Guaranty Co., ante, p. 216. P. 229.
2. The provision of the Uniform Bank Collection Code, adopted in New York, to the effect that, in the event of a bank’s insolvency, the claims of those whose paper the bank has collected but for which it has not paid them, shall be preferred, is invalid as applied to a national bank. Jennings v. U.S. Fidelity & Guaranty Co., ante p. 216. P. 230.
71 F. 2d 280 affirmed.
Certiorari, 293 U.S. 546, to review the affirmance of a decree dismissing the bill in a suit against an insolvent national bank, its receiver, and the maker of a promissory note, brought by the payee to impress a trust upon its assets.
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Chicago: U.S. Supreme Court, "Syllabus," Old Company’s Lehigh, Inc. v. Meeker, 294 U.S. 227 (1935) in 294 U.S. 227 294 U.S. 228. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=5FKW4I9YC5U2GPM.
MLA: U.S. Supreme Court. "Syllabus." Old Company’s Lehigh, Inc. v. Meeker, 294 U.S. 227 (1935), in 294 U.S. 227, page 294 U.S. 228. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=5FKW4I9YC5U2GPM.
Harvard: U.S. Supreme Court, 'Syllabus' in Old Company’s Lehigh, Inc. v. Meeker, 294 U.S. 227 (1935). cited in 1935, 294 U.S. 227, pp.294 U.S. 228. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=5FKW4I9YC5U2GPM.
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