Security Bank & Trust Co. v. Todd

Citations

• 118 Miss. 575
• 79 So. 560

Syllabus

<p>Banks and Banking. Expense of collecting collateral.</p> <p>Where the indebtedness of a bank to a trust company was evidenced by a promissory note and open account secured by notes deposited as collateral security in the adjustment of the accounts between them, the receiver of the bank was entitled only to the net amount of the sums realized on the collection of the collaterals after deducting the necessary expenses for collecting the same.</p>