Newark (City) v. Peoples National Bank

Citations

• 24 Ohio C.C. Dec. 624

Syllabus

<p>BANKS AND BANKING — PLEADINGS.</p> <p>1, Interest Recoverable on Deposits Made by Municipal Treasurer with Knowledge on the Part of the Bank as to Their Trust Character.</p> <p>An action brought by a municipality against a bank for recovery of interest received by said bank on funds belonging to the municipality and alleged to have been deposited without its knowledge or knowledge on the part of the bondsmen of the treasurer who made the deposit, but with knowledge on the part of the bank as to the ownership and trust character of said funds, is not open to demurrer, and an accounting of profits so received may be required of said bank.</p> <p>2. Petition Failing to Aver Knowledge of Bank as to Trust Character of Funds Deposited Demurrable.</p> <p>But a petition which omits, in such a case, the averment of knowledge on the part of the bank of the true ownership of the funds so deposited, is open to demurrer.</p> <p>[Syllabus by the court.]</p>