Marks v. Bodie Bank

Citations

• 2 Cal. Unrep. 583
• 8 P. 807
• 1885 Cal. LEXIS 840

Syllabus

<p>Bank for Collection—Liability to Account.—Where a bank for collection, having a claim against a certain party, took certain of Ms notes from another party under an agreement to collect them, and, when collected, pay the proceeds thereof over to plaintiff, deducting costs and expenses of collection, and in pursuance of the agreement did so collect a portion of the notes by means of an action, judgment, and execution sale, if the proceeds were not sufficient to satisfy the demand of plaintiff, the owner of the notes, after payment of the bank’s own debt and costs and expenses, neither the plaintiff nor the bank is entitled to payment in full out of the proceeds of the sale, but each is entitled to share in the proportion in which their claims against the debtor had paid the purchase price at the execution sale, and the plaintiff became entitled to his share thereof after sale upon demand.</p> <p>Evidence—Failure to Object to Incompetency.—A Refusal to Strike Out Evidence on the ground of incompetency and immateriality is not erroneous, if such evidence was admitted without any objection being taken on these grounds.</p>