Rankin v. Emigh

Citations

• 218 U.S. 27
• 30 S. Ct. 672
• 54 L. Ed. 915
• 1910 U.S. LEXIS 2001

Syllabus

<p>On error to a state court of last resort in a case involying the liability of a national bank under a contract, the findings of fact of the state court are binding on this court, and only the Federal' question as to the effect of the facts found can be passed on.</p> <p>Although restitution of property obtained under a contract which is illegal because ultra vires, cannot be adjudged by force of the illegal contract, the courts will compel restitution of property of another obtained without authority of law; and, although the contract under which a national bank obtains money from an innocent third party may be ultra vires under Rev. Stat., §§ 5133-5136, the bank may be required to return the money so received to the party entitled thereto. Citizens’ Central National Bank v. Appleton, Receiver. 216 U. S. 196.</p> <p>In this case, even if the purchase and carrying on of a mercantile company by a national bank was illegal, the persons dealing with the mercantile company were entitled to receive the money paid into the bank for their account.</p>