Harding v. Broadway Nat. Bank Chelsea

PIERCE, Justice. This is an action of contract brought by the plaintiff, as the receiver for the Francis & Badger Motor
Company, against the defendant bank for an alleged breach of contract with respect to a credit balance of the motor company.
The answer was a general denial and payment. The case was tried in the superior court without a jury. The trial Judge found
for the plaintiff and assessed damages in the sum of $1,960.73. The questions of law raised by the exceptions relate to certain requests for rulings granted by the Judge, and to certain
requests for rulings by the defendant which the Judge denied. The material facts shown by the record are in substance as follows:
The Francis & Badger Motor Company, a Massachusetts corporation, was engaged in distributing automobiles. In 1921 the
motor company (hereinafter referred to as the depositor) desired to open a commercial account in the defendant bank, for
the purpose of depositing items to its credit to be drawn against, and also to establish credit with the defendant so that
the depositor might borrow money from time to time as agreed on. The depositor's treasurer informed the president of the defendant
bank of the relationship it desired to establish. The bank thereupon issued to the depositor a paper, popularly known as a
credit statement, the blanks on which were to be filled out by the depositor. After the credit statement was filled out, signed
and delivered by the depositor through its treasurer to the defendant, the account was opened.