U.S. Supreme Court
Blakey v. Brinson, 286 U.S. 254 (1932)
Blakey v. Brinson
Argued April 21, 1932
Decided May 16, 1932
286 U.S. 254
1. The relation between a bank and a depositor is that of debtor and creditor. P. 286 U. S. 261.
2. A savings depositor of a national bank, pursuant to conversations with his bank's officer, increased his account by deposit in the usual chanroblesvirtualawlibrary
way to an amount sufficient to pay for some bonds which the bank had undertaken to purchase for him. Thereafter the officer told him that he had his bonds, and handed him a charge slip showing the cost, including principal, accrued interest, and commission. The total was charged against the depositor's account, and was credited as a "deposit" in a "bond account" appearing on the bank's books. When the bank soon afterwards closed its doors, it was discovered that in fact no bonds had been purchased, ordered, or received for the depositor.
Held that no trust had been created, and that the depositor continued to be a general creditor. P. 286 U. S. 263.
52 F.2d 821 reversed.
Certiorari, 285 U.S. 531, to review the affirmance of a judgment against the receiver of a bank in a suit for money alleged to have been held by the bank on a trust. chanroblesvirtualawlibrary