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Hoffman v. Rauch, 300 U.S. 255 (1937)
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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.
Hoffman v. Rauch, 300 U.S. 255 (1937)
Hoffman v. Rauch No. 563 Argued February 12, 1937 Decided March 1, 1937 300 U.S. 255
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE THIRD CIRCUIT
Syllabus
1. Bonds held by a national bank for safekeeping only were sold by the cashier, without authority from their owner, and the price was charged to the buyer’s deposit account in the bank. Later, the bank was declared insolvent, and a receiver took charge. Held that the owner of the bonds was not a preferred creditor. P. 256.
Nothing of value was added to the bank’s property. Nothing new came into its treasury. A credit entry against an outstanding obligation represented the only possible benefit. Its total liabilities were not reduced, since a new obligation arose to pay to the owner the value of the bonds.
2. When a claim is made for preference against funds held by the receiver of a national bank, the burden is upon the claimant to establish his title; he must definitely trace something of value which belonged to him, or the avails therefrom, into the receiver’s possession. A mere showing that the bank wrongly used property of another in discharging its indebtedness does not suffice to establish a preferred claim against the receiver. P. 257.
85 F.2d 1000, reversed.
Certiorari, 299 U.S. 538, to review the affirmance of a judgment recovered against the receiver of a national bank by the administrator of one whose bonds the bank, while holding for safe keeping, had wrongfully sold.
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Chicago: U.S. Supreme Court, "Syllabus," Hoffman v. Rauch, 300 U.S. 255 (1937) in 300 U.S. 255 Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=FE8DWHUPRW8YGT7.
MLA: U.S. Supreme Court. "Syllabus." Hoffman v. Rauch, 300 U.S. 255 (1937), in 300 U.S. 255, Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=FE8DWHUPRW8YGT7.
Harvard: U.S. Supreme Court, 'Syllabus' in Hoffman v. Rauch, 300 U.S. 255 (1937). cited in 1937, 300 U.S. 255. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=FE8DWHUPRW8YGT7.
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