L.R. Baird v. First National Bank

In the complaint in this case it is alleged that the Farmers & Merchants State Bank of Bowdon, North Dakota, was a banking corporation duly organized under the laws of this state; that on January 19, 1925, it became insolvent and closed its doors; that the plaintiff Baird was appointed receiver on March 23, 1925, and that he thereafter duly qualified as such; that the defendant bank is a banking corporation organized under the laws of the United States of America; and that on or about February 11, 1925, the defendant bank received the sum of $331.73 for the use and benefit of the plaintiff. ""That said sum was collected by and paid to the defendant First National Bank of Fessenden for and on account of the plaintiff under and by virtue of the following facts and circumstances, to wit: That one R. O. Torland, prior to February 11, 1925, borrowed the sum of $2,500 from the Bank of North Dakota upon certain real estate owned by him; and such sum was by agreement of plaintiff, defendant, R. O. Torland, and one Henry E. Hanson hereinafter named, delivered to the said First National Bank of Fessenden to be by it disbursed and applied upon certain obligations and debts of said R. O. Torland, then owing to diverse persons, among which obligations was an indebtedness of said R. O. Torland to Henry E. Hanson, and said First National Bank having received said sum of $2,500 as aforesaid paid out and applied the same upon various debts of said R. O. Torland and after having done so there remained in defendant's hands a balance of $331.73 to which said Hanson was entitled; that at the said time the said Hanson was indebted to the Farmers & Merchants State Bank of Bowdon in a large amount of money, and had with the knowledge, consent and agreement of the defendant assigned the amount of money coming to him from said R. O. Torland as aforesaid, to wit: $331.73 which the defendant then and there agreed to pay over to said Farmers & Merchants State Bank of Bowdon and the receiver thereof, and said Farmers & Merchants State Bank of Bowdon and the receiver thereof, this plaintiff, thereupon became entitled to have and receive from the defendant First National Bank of Fessenden the sum of $331.73.""