[DOWNLOAD] "William C. Rodgers v. Bankers National" by Supreme Court of Minnesota * eBook PDF Kindle ePub Free

eBook details

Title: William C. Rodgers v. Bankers National
Author : Supreme Court of Minnesota
Release Date : January 17, 1930
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 75 KB

Description

1. A bank is liable for the loss of trust funds deposited with it in the name of the trustee when, having actual knowledge of the character thereof, it acts in bad faith by conniving with the fiduciary. It is also liable if it receives for itself such funds from the trustee under circumstances charging it with constructive knowledge of their trust character. It is also liable if it receives and retains such funds without notice or knowledge of their true character unless it has so changed its position that it has acquired equities equal or superior to the rights of the owner.