Marshall v. F. & M. Savings Bank

Citations

• 85 Va. 676
• 2 L.R.A. 534
• 8 S.E. 586
• 1889 Va. LEXIS 81

Syllabus

<p>1. Bank Directors—Duties and Liabilities.—These officers hold to stockholders, depositors and creditors the relation of trustees to cestuis que trust, and as such are personally responsible for frauds and losses resulting from gross negligence and inattention to their trust duties.</p> <p>2. Idem—Case at Bar.—Record in this case discloses such gross negligence on the part of certain bank directors, whereby losses resulted, that it was held, that the directors were liable for losses resulting to the depositors, though they were not guilty of bad faith and were ignorant of the affairs of the bank.</p>