Schinotti v. Whitney

Citations

• 130 F. 780
• 1904 U.S. App. LEXIS 4225

Syllabus

<p>1. Banks — Deposits—Nature op Contract — What Law Governs.</p> <p>Where plaintiff, a citizen and resident of New York, deposited her money, subject to check, in the private bank of defendant’s firm in that state, defendant being then a resident of New York, and interest was agreed to be paid on the deposits in New York, the nature and character of the transaction should be determined by the laws of New York.</p> <p>2. Same — Limitations.</p> <p>Limitations do not begin to run against the recovery of a bank deposit' until demand is made for repayment.</p> <p>3. Same — Suspension op Banks.</p> <p>Suspension of payment and discontinuance of banking operations by a bank constitutes a waiver of a demand by a depositor for a repayment of the deposit, so that limitations against the recovery thereof begin to</p> <p>■ run from the date of the suspension.</p> <p>4. Same — Monet Lent.</p> <p>Money deposited in a bank in New York at interest and subject to check constitutes “money lent” to the banker within Civ. Code La. art. 3538 (3503), requiring actions for the payment of money lent to be brought within three years.</p>