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The Official Assignee of Madras Vs. the Society for Promoting Christian Knowledge - Court Judgment

LegalCrystal Citation
SubjectBanking
CourtChennai
Decided On
Judge
Reported in6Ind.Cas.240
AppellantThe Official Assignee of Madras
RespondentThe Society for Promoting Christian Knowledge
Excerpt:
banker and customer - deposit--agreement by banker to buy securities for customer--failure of bank--trust. - - 138.) here as theie, the bankers promised to buy securities for the customer and failed to do so before they suspended payment, but here as there i find nothing to suggest that the purchase was not to be made out of the funds of the bank or that any transfer of funds was effected to any kind of trust account.miller, j.1. this case is also on all fours with lupprian's case (l.p. appeal no. 138.) here as theie, the bankers promised to buy securities for the customer and failed to do so before they suspended payment, but here as there i find nothing to suggest that the purchase was not to be made out of the funds of the bank or that any transfer of funds was effected to any kind of trust account.2. i would, therefore, allow the appeal with costs throughout.munro, j.3. for the reasons given in my judgment in l.p. appeal no. 138 of 1909. i agree to the proposed order.abdur rahim, j.4. i concur.
Judgment:

Miller, J.

1. This case is also on all fours with Lupprian's case (L.P. Appeal No. 138.) Here as theie, the bankers promised to buy securities for the customer and failed to do so before they suspended payment, but here as there I find nothing to suggest that the purchase was not to be made out of the funds of the Bank or that any transfer of funds was effected to any kind of trust account.

2. I would, therefore, allow the appeal with costs throughout.

Munro, J.

3. For the reasons given in my judgment in L.P. Appeal No. 138 of 1909. I agree to the proposed order.

Abdur Rahim, J.

4. I concur.


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