Luiten v. Peyton

Decided June 30, 1933

Cited by 1 later decisions — most recently June 1934

1 state decisions

Good law ✅— No negative treatment on recordhow we know

Decided 1933-06-30

DIBELL, Justice

¶1 (dissenting).

¶2 I concur in the result reached by Mr. Justice Stone.,

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Posture: Plaintiff as clerk of the district court of McLeod county received from the state a warrant representing damages in a highway condemnation proceeding, with directions that he remit the same to the heirs of one Johan F.W. Wendt. He cashed the warrant at the defendant Peoples State Bank of Glencoe, and, after making certain payments, received the balance, $1,460, in the form of a cashier's check. Thereafter the bank became insolvent, and plaintiff brought this action in the district court for McLeod county to have this amount allowed and paid as a preferred claim out of the assets of the bank, of which the defendant J.N. Peyton as commissioner of banks is the statutory liquidator. The court, C.M. Tifft, Judge, found that the deposit was a special one resulting in the creation of a trust, which entitled it to a preference. From the judgment entered pursuant to the findings defendants appealed. Affirmed.