Oklahoma Reports Volume 35

Oklahoma Reports Volume 35

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1913 edition. Excerpt: ... and deliver the notes and mortgage, and delivered said bill of lading to VVade & Hadley without first collecting the said $50 and without securing the proper execution of the notes and mortgage; that, upon the delivery of the said bill of lading to Wade 8; Hadley by the defendant, the said Wade & Hadley secured the soda fountain and supplies and appropriated the same to their own use and benefit. Plaintiff alleges that, by reason of said negligent and wrongful delivery of the said bill of lading, it had St. Louis Carbonating & Mfg. Co. v. Lookeba. State Bank. been damaged in the sum of $250, for which sum it prays judgment with interest from April 1, 1909, and for costs. Defendant answered by general denial, and the cause came on for trial before the court without a jury. Plaintifl established the averments of its petition by the deposition of its president, to which defendant filed a demurrer, which was by the court sustained, and the cause has been lodged in this court for review. The question presented is whether the bank, acting in the capacity of agent for the plaintiff, having violated the instructions set out in the above letter, is liable, and, if so, in what amount. Vtle think the rule as to the liability of the bank is well stated in Clark 8; Skyles on the Law of Agency, sec. 402d, as follows: "It is the duty of an agent who receives negotiable paper for collection to do all acts necessary to secure and preserve the liability thereon of all the parties prior to his principal; and if he fails in this duty, and thereby causes loss to his principal, he becomes liable for such loss." See, also, 2 Bolles on Modern Law of Banking, p. 572 et seq., ' Bank of Big Cabin 2/. English, 27 Okla. 334, 111 Pac. 386;...show more

Product details

  • Paperback | 334 pages
  • 189 x 246 x 18mm | 599g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236738152
  • 9781236738158