Conner v. First National Bank

Citations

• 113 Wash. 662
• 194 P. 562
• 1921 Wash. LEXIS 546

Syllabus

<p>Bankruptcy (6) — Fraudulent Preferences — Change in Evidence of Indebtedness. A bank is not liable for obtaining an unlawful preference from an insolvent depositor where it merely cancelled the depositor’s indebtedness to it by the cancellation of an equal amount of the deposits, or merely changed the form of the indebtedness from a note to an overdraft.</p> <p>Banks and Banking (22) — Deposits—Application to Debts or Set-Off by Bank. A bank may exercise its right of set-off by applying deposits to the payment of a debt due from the depositor, in the absence of express agreement to the contrary.</p>