Lien v. Sioux Falls Savings Bank

Citations

• 12 S.D. 317
• 81 N.W. 628
• 1900 S.D. LEXIS 35

Syllabus

<p>A surety having paid the debt of his principal to a bank, to which the principal has given collateral security, the bank is charged with notice that by the express provisions of Comp. Laws, § 4309, (he surety is entitled to such security, so that, though another claims it, the bank cannot relieve itself from responsibility by depositing it in court, under Laws 1895, Chap. 65, providing that when two persons claim property in possession of another, and he is “unable to determine to whom the' same rightfully belongs, or who is rightfuly entitled to the possession thereof,” he may, on action being begun therefor by one claimant, deposit it in court, and give notice to the other claimants.</p> <p>Haney, J., dissenting.</p>