Beecher v. Cosmopolitan Trust Co.
| Decision Date | 31 May 1921 |
| Citation | 239 Mass. 48,131 N.E. 338 |
| Parties | BEECHER v. COSMOPOLITAN TRUST CO. et al. |
| Court | United States State Supreme Judicial Court of Massachusetts Supreme Court |
OPINION TEXT STARTS HERE
Case Reserved from Supreme Judicial Court, Suffolk County.
Bill in equity by David H. Beecher against the Cosmopolitan Trust Company and others, reserved by a single justice on the bill and answer for the determination of the full court. Decree ordered for defendants.Morris Katzeff, of Boston, for plaintiff.
Daniel L. Smith, Howard W. Brown, and Henry O. Cushman, all of Boston, for respondents.
This is a bill in equity reserved by a single justice upon the bill and answer for the determinaton of the full court. The facts as stated in the bill and answer are that on September 21, 1920, the plaintiff paid the defendant trust company $500, and 30 cents postage, for a remittance order for 24,270 Roumanian lei. He received a receipt which reads as follows:
+-----------------------------------------------------------------------------+
¦Cosmopolitan Trust Co. Foreign Department. 60 ¦
+-----------------------------------------------------------------------------¦
¦Devonshire Street, Boston Mass. Sold to Beechor ¦
+-----------------------------------------------------------------------------¦
¦El. Co. Address, 214 Moody St., Waltham, ¦
+-----------------------------------------------------------------------------¦
¦Mass. ¦
+-----------------------------------------------------------------------------¦
¦No. 16322 ¦ ¦ ¦
¦Remittance ¦@ ----- ¦$500.00 ¦
¦Order. ¦ ¦ ¦
+-----------+-------------------------------------+---------------------------¦
¦ ¦Postage fee ¦.30 ¦
+-----------+-------------------------------------+---------------------------¦
¦September ¦ ¦ ¦
¦21, 1920. ¦ ¦ ¦
¦192 ¦ ¦ ¦
+-----------+-------------------------------------+---------------------------¦
¦Amount R. ¦ ¦ ¦
¦L. 270 ¦Total paid ¦$500.30 ¦
¦twenty-four¦ ¦ ¦
+-----------+-------------------------------------+---------------------------¦
¦thousand ¦ ¦ ¦
¦two hundred¦ ¦ ¦
+-----------+-------------------------------------+---------------------------¦
¦and seventy¦ ¦ ¦
¦Roum. lei. ¦ ¦ ¦
+-----------+-------------------------------------+---------------------------¦
¦Payable to ¦ ¦ ¦
¦Mordchi ¦ ¦ ¦
¦Berman. ¦ ¦ ¦
+-----------+-----------------------------------------------------------------¦
¦Address, ¦ ¦
¦Lipcani, ¦Conditions. ¦
¦Bessarabia,¦ ¦
+-----------+-----------------------------------------------------------------¦
¦Roumania. ¦1. It is expressly agreed that the Cosmopolitan Trust Co. acts as¦
¦ ¦agent only for the sender. ¦
+-----------+-----------------------------------------------------------------¦
¦ ¦2. The Cosmopolitan Trust Co., its correspondent or agent, is to ¦
¦ ¦forward the money from any European post office to the required ¦
¦ ¦address. ¦
+-----------+-----------------------------------------------------------------¦
¦ ¦3. The liability of the Cosmopolitan Trust Co. to the sender is ¦
¦Through ¦to be no greater than the liability of the European post office ¦
¦Bucharest. ¦to us, and all claims in case of loss of money to be adjusted ¦
¦ ¦only when the amount is received from the European post office or¦
¦ ¦correspondent. ¦
+-----------+-----------------------------------------------------------------¦
¦ ¦4. Refunds will be made at the rate of exchange prevailing on ¦
¦ ¦date of refund. ¦
+-----------+-----------------------------------------------------------------¦
¦ ¦5. This receipt must be produced when making inquiries regarding ¦
¦ ¦this order. ¦
+-----------+-----------------------------------------------------------------¦
¦C. W. C. ¦ ¦ ¦
¦17076-10M. ¦ ¦ ¦
+-----------+-------------------------------------+---------------------------¦
¦Across ¦ ¦ ¦
¦face: ¦ ¦ ¦
+-----------------------------------------------------------------------------¦
¦Paid. ¦
+-----------------------------------------------------------------------------¦
¦Cosmopolitan Trust Co. ¦
+-----------------------------------------------------------------------------¦
¦Sept. 21, 1920 ¦
+-----------------------------------------------------------------------------+
No. 16322 Remittance Order.
Amount R. L. 270 twenty-four thousand two hundred and seventy Roum. lei.
Payable to Mordchi Berman.
Address, Lipcani, Bessarabia, Roumania.
Through Bucharest.
Conditions.
1. It is expressly agreed that the Cosmopolitan Trust Co. acts as agent only for the sender.
2. The Cosmopolitan Trust Co., its correspondent or agent, is to forward the money from any European post office to the required address.
3. The liability of the Cosmopolitan Trust Co. to the sender is to be no greater than the liability of the European post office to us, and all claims in case of loss of money to be adjusted only when the amount is received from the European post office of correspondent.
4. Refunds will be made at rate of exchange prevailing on date of refund.
5. This receipt must be produced when making inquiries regarding this order.
Across face:
Paid.
Cosmopolitan Trust Co.
Sept. 21, 1920.
He also received a remittance order which is in the terms of the receipt without the conditions.
September 21, 1920, the defendant trust company had a net credit balance with the Banque Marmorosch Blank & Cie., Bucharest, in the amount of 303,424.25 Roumanian lei, and an entry was made on the books of the trust company crediting the Banque Marmorosch Blank & Cie. and setting aside 24,270 Roumanian lei covering this remittance.
It was the practice of the defendant trust company to send by every convenient sailing the advices of remittances then awaiting execution. In accordance with this custom, on September 24, 1920, it sent to the Banque Marmorosch by mail a letter of advice, which reads:
Cosmopolitan Trust Company, 60 Devonshire Street, Boston, Mass.
Date September 24th, 1921.
Marmorosch, Blank & Cie.,
Bucharest, Roumania.
Dear Sirs: Please execute the following money orders to debit of our account:
To continue reading
Request your trial
-
Cosmopolitan Trust Co. v. Suffolk Knitting Mills
...course, claims so established ought immediately to be scheduled by the commissioner among claims allowed. See Beecher v. Cosmopolitan Trust Co., 239 Mass. at page 52, 131 N. E. 338. Rights of set-off may be adjudicated in proceedings instituted by or in behalf of the Trust Company, as is sh......
-
Leach v. Citizens' State Bank of Arthur
... ... assets in the hands of the receiver, on the theory that a ... trust was created ... The ... determination of the question of the existence of a ... issuing the draft. American Exp. Co. v. Cosmopolitan Tr ... Co., 239 Mass. 249 (132 N.E. 26); Beecher v ... Cosmopolitan Tr. Co., 239 Mass. 48 (131 ... ...
-
Leach v. Citizens' State Bank of Arthur
...purchaser and the bank issuing the draft. American Express Co. v. Cosmopolitan Trust Co., 239 Mass. 249, 132 N. E. 26;Beecher v. Trust Co., 239 Mass. 48, 131 N. E. 338;Legniti v. Bank, 230 N. Y. 415, 130 N. E. 597, 16 A. L. R. 185;Spiroplos v. Bank, 116 Wash. 491, 199 P. 997, 16 A. L. R. 18......
-
Plumer v. Houghton & Dutton Co.
...consideration furnished, instead of for damages. Cosmopolitan Trust Co. v. Ciarla, 239 Mass. 32, 131 N. E. 337;Beecher v. Cosmopolitan Trust Co., 239 Mass. 48, 131 N. E. 338;Corsino v. Hanover Trust Co., 253 Mass. 5, 147 N. E. 868. No claim has been presented, based on the value of the stoc......