Opinion
Gen. No. 40,232. (Abstract of Decision.)
Opinion filed June 26, 1940
BANKING, § 165 — insolvency, special or trust deposit. Preference against assets of insolvent bank was properly denied, where evidence showed that petitioner had executed contract to purchase building and land from bank, and that although original contract and warranty deed provided that purchaser was entitled to entire net award resulting from condemnation of a portion of the land, several supplemental contracts limited purchaser's share of award to $70,000, and petitioner's attorney had drafted such supplemental contracts, and money above the $70,000 could not be claimed by petitioner as a special or trust deposit.
See Callaghan's Illinois Digest, same topic and section number.
Appeal from Circuit Court of Cook county; Hon. MICHAEL FEINBERG, presiding.
Affirmed. Heard in second division, first district, this court at June term, 1938.
Laurence B. Jacobs, for appellant;
Marcellus W. Meek and Roy S. Gaskill, of counsel;
Altheimer, Woods Smith, for appellee;
Lewis L. Levin and Charles H. Blumenfeld, of counsel.
"Not to be published in full." Opinion filed June 26, 1940.