FIRST NATIONAL BANK

v.

AMERICAN SURETY CO.

Citator

Cited By

• In re A. M. Townson & Co., 283 F.2d 449 (3d Cir. 1960)
  …tant under an order made by the judge, stating the date, the sum, and the account for which it is drawn.” As was stated in American Surety Co. of New York v. First Nat. Bank in West Union, W. Va., 4 Cir., 1944, 141 F. 2d 411, 413, certiorari denied 322 U.S. 754: [*456] “It is perfectly clear that the purpose of these provisions was to protect the funds of bankrupt estates, not merely to designate banks in which trustees might deposit funds without incurring personal liability * * * » It is settled that th…
• In re Quantum Dev. Corp. v. JOY, 534 F.2d 532 (3d Cir. 1976)
  …ignated institutions. It is undisputed that neither BNS nor Citibank were designated as depositories for bankruptcy funds. Fidelity argues here, on the authority of American Surety Co. v. First National Bank, 141 F. 2d 411 (4th Cir.), cert. denied, 322 U.S. 754, 65 S.Ct. 1267, 88 L.Ed. 1583 (1944), that the acceptance of the Quantum bankruptcy funds by BNS and Citibank without a court order designating them as official depositories under the Bankruptcy Act resulted in both banks becoming trustees ex malefi…

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• Woods v. The Bank OF NEW York, 806 F.2d 368 (2d Cir. 1986)
  …ients to scrutinize directions placed on the memorandum portion of an incoming check. See also United States v. Sommer Corp., 580 F. 2d 179, 184 (5th Cir.1978); American Surety Co. v. First National Bank, 141 F. 2d 411, 413 (4th Cir.), cert. denied, 322 U.S. 754, 64 S.Ct. 1267, 88 L.Ed. 1583 (1944). Childs further supports the conclusion that to impose such an obligation on appellant Bank in this case would be commercially unreasonable in light of the volume of checks passing through its hands daily and th…