144 P. 768 | Mont. | 1914
delivered the opinion of the court.
This action was brought by plaintiff, as receiver of the Butte Savings Bank, to recover the sum of $1,000 due from defendant to the bank upon a demand note for borrowed money, dated May'5, 1914, together with interest at the rate of eight per cent per annum. Though formal pleadings were filed, the cause was submitted to the trial court upon an agreed statement of facts, which may be epitomized as follows: The bank is a corporation organized under the laws of Montana as a savings trust deposit and security association, and, at the date of the execution of the note in controversy, was engaged at Butte, Montana, in con
At the-hearing in this court, counsel for the plaintiff made the-'concession that, when the bank ceased to do business, all bálances" on savings accounts became due without previous notice to the bank or the receiver, thus eliminating this feature of the' case. They submitted the question whether, upon the facts disclosed by the statement,' the decision of the trial court allowing defendant credit, by way of counterclaims, for the amounts of his deposits, does not give him an unlawful preference over other depositors of the bank. Incidentally they also presented .the inquiry whether the defendant is entitled to interest on either or both of his balances.
By a practically unanimous line, of- decisions, the courts have held that, when a receiver takes charge of the estate of an
The relation of the defendant to the bank was not that of a
Counsel argue, however, that this general rule can have no application to this case, for the reasons that the bank was doing
The effect of the suspension and declared insolvency of the bank was to make the defendant’s deposits due and actionable. (Stadler v. First Nat. Bank, supra.) This being so,
Judgment affirmed.
Affirmed,.