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People ex Rel. v. Union Bank of Chicago

Appellate Court of Illinois, First District
Jun 24, 1940
306 Ill. App. 270 (Ill. App. Ct. 1940)

Opinion

Gen. No. 40,826. (Abstract of Decision.)

Opinion filed June 24, 1940

BANKING, § 226assets deposited under Trust Companies Act, right of guardian to compel payment from. In action by guardian against bank in liquidation seeking to have claim paid out of assets deposited by bank under provisions of the Trust Companies Act, lower court improperly disallowed claim, where property was conveyed to bank as trustee, which executed trust deed to secure loan made by guardian, and subsequently action was brought by others claiming ownership of property to remove trust deed as a cloud, and receiver of bank permitted case to go by default, as the bank was a "trustee by deed" within meaning of section 1 of the Trust Companies Act, and was guilty of negligence in representing that it had authority to execute trust deed and had title (Ill. Rev. Stat. 1939, ch. 32, § 287; Jones Ill. Stats. Ann. 135.20).

See Callaghan's Illinois Digest, same topic and section number.

Appeal from Circuit Court of Cook county; Hon. CORNELIUS HARRINGTON, presiding.

Reversed and remanded with directions. Heard in first division, first district, this court at October term, 1939.

Arthur E. Walsh, for appellant;

Schuyler Hennessy, for appellee;

Theodore E. Zahler and C. Ernest Heaton, of counsel.


"Not to be published in fun." Opinion filed June 24, 1940.


Summaries of

People ex Rel. v. Union Bank of Chicago

Appellate Court of Illinois, First District
Jun 24, 1940
306 Ill. App. 270 (Ill. App. Ct. 1940)
Case details for

People ex Rel. v. Union Bank of Chicago

Case Details

Full title:People of the State of Illinois ex rel. Oscar Nelson v. Union Bank of…

Court:Appellate Court of Illinois, First District

Date published: Jun 24, 1940

Citations

306 Ill. App. 270 (Ill. App. Ct. 1940)
28 N.E.2d 286