121 Ga. 105 | Ga. | 1904
There is practically no dispute as to the material facts of this ease. The defendant in the court below was a banking corporation, conducting, under authority of its charter, a savings department, depositors in which were paid interest on their deposits. The savings department was governed by certain rules and regulations, and depositors were required, upon opening their accounts, to sign an agreement to abide by these rules, of which the following are material to the present discussion: “A depositor' must always present his or her pass-book when depositing or withdrawing. If not present personally, an orderr properly signed and witnessed must accompany the presentation of the book in case of withdrawal.” “Every effort will be made to protect depositors against fraud, but payment made to a person presenting pass-book shall be good and valid on account of the owner, unless the pass-book has been' lost and notice in writing given to this bank before such payment is made.” The plaintiff was a depositor in the savings department, and, as such, had assented to
So far as we are aware, no case has ever been decided by this “court which is in point on this subject, and we are therefore compelled to. rely upon standard text-books and cases adjudicated by 'other courts for authority for the ruling now made. There are many points of marked difference between savings banks and ordinary banks which receive deposits subject to check and pay no interest thereon. In the nature of the relationship between the savings bank and its depositors, the rules governing that relationship enter into the contract of deposit; and especially is this so when the depositor agrees in writing that he shall be bound by these rules. It is a common rule of such banks that the depositor shall produce his bank-book in order to draw his deposit or any part of it, and that production of the book shall be authority to the bank to pay the person producing it. “This is re.garded as a reasonable and binding regulation, and if the bank pay to one having the book, there being no circumstances to excite suspicion and base an imputation of negligence on the part of the bank, the payment is good.” 2 Morse on Banks and Banking, § 620; Schoenwald v. Metropolitan Svgs. Bk., 57 N. Y. 418; Levy v. Franklin Svgs. Bk., 117 Mass. 448; Goldrick v. Bristol County Svgs. Bk., 123 Mass. 320; Burrill v. Dollar Svgs. Bk., 92 Pa. St. 134, 37 Am. Rep. 669; Donlan v. Provident Inst., 127 Mass. 183, 34 Am. Rep. 358; Cosgrove v. Provident Inst. (N. J.), 46 Atl. 617. In the case of Sullivan v. Lewiston Institution of Savings, 56 Me. 507, 96 Am. Dec. 500, which is very closely in point, it was held: “ Officers of savings institutions are required to exercise reasonable care and diligence only in making .payments on account of deposits. And if, using such care and
Much stress is laid, in the brief of counsel for the plaintiff in error, upon the rule that unless the depositor is personally present with his pass-book when drawing money, “an order properly signed and witnessed must accompany the presentation of the book in case of withdrawal,” and it is urged that because the plaintiff did not appear in person, and the person who did present the pass-book had no order as required by the rule, the bank is.
The foregoing disposes of the case on its substantial merits; and it follows that, regardless of inaccuracies in the charge of the ■court as disclosed by the motion for a new trial, the verdict was demanded, and the judgment overruling the motion will not be disturbed. Judgment affirmed.