Fourth National Bank v. Albaugh,
188 U.S. 734 (1903)

Annotate this Case
  • Syllabus  | 
  • Case

U.S. Supreme Court

Fourth National Bank v. Albaugh, 188 U.S. 734 (1903)

Fourth National Bank v. Albaugh

No. 169

Argued January 29-30, 1903

Decided February 23, 1903

188 U.S. 734


Cross, who was president of a bank and had been misusing its funds, gave to Martindale two instruments of assignment, providing that Martindale should pay himself for any paper on which Cross and Martindale were mutually makers or indorsers. The bank and other parties held such paper. Cross killed himself the day after the assignment was given. There was an earlier assignment to Martindale as trustee. The receiver of the bank alleged that the earlier assignment was made to protect the bank. Martindale was the only witness as to delivery of the assignment and admitted that it was for the benefit of the bank but only to a limited amount. Held, in an action in which other holders of paper made by Cross and Martindale sought to obtain the proceeds of sale of the property assigned, that it was not error to admit testimony that Martindale had stated that the earlier assignment had been made to secure the bank generally for Cross' liability thereto.

The case is stated in the opinion of the Court.

Disclaimer: Official Supreme Court case law is only found in the print version of the United States Reports. Justia case law is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.