88 Mo. App. 596 | Mo. Ct. App. | 1901
Trust companies have not all the capacities of banks of discount and deposit or ordinary banking institutions ; for the latter are especially authorized to create the relation of debtor and creditor by the acceptance of money for the
Ey the certification of the check in favor of plaintiff, the defendant trust company assumed an obligation the same in degree, which a bank would have contracted under a similar state of facts. Of such an obligation when assumed by a bank, it is said that it thereby “becomes primarily liable to the holder
Our conclusion is, that the ruling of the trial court in awarding a new trial in this cause was correct. It is, therefore, affirmed and the cause remanded.