Edward Douglass White

Name: Yates v. Jones National Bank — Opinion of the Court
Author: Edward Douglass White

Yates v. Jones National Bank — Opinion of the Court

Summary

“Yates v. Jones National Bank — Opinion of the Court”, is a work by Edward Douglass White. It explores elements such as directors, the United States and defendants.

Quotes from Yates v. Jones National Bank — Opinion of the Court (Edward Douglass White)

Edward Douglass White, Yates v. Jones National Bank — Opinion of the Court

“ A director of a national bank is presumed to know its true condition and that the law requires a true statement of its affairs to be made and published by the bank from time to time, and if one has been a director or executive officer of such a bank for a long period of time he is presumed to have knowledge of the making and publishing of the statements of its condition, and the burden is cast upon him to overcome this presumption by competent evidence. ”

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Source: Wikisource

Edward Douglass White, Yates v. Jones National Bank — Opinion of the Court

“ Of course, in what has been said we have confined ourselves to the precise question arising for decision, and therefore must not be understood as expressing an opinion as to whether and to what extent directors of national banks may be civilly liable by the principles of the common law for purely voluntary statements made to individuals or the public, embodying false representations as to the financial condition of the bank, by which one who has rightfully relied upon such representation has been damaged. ”

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Source: Wikisource

Edward Douglass White, Yates v. Jones National Bank — Opinion of the Court

“ The frustration of the public policy embodied in the national bank system by the crippling of the usefulness of such institutions, which would result from holding that directors, in performing the duties imposed upon them by the national bank act, might be held liable civilly, not by the standard of conduct which the act provides for a violation of its express commands, but by another and different one, is apparent. ”

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Source: Wikisource

Edward Douglass White, Yates v. Jones National Bank — Opinion of the Court

“ If the directors of any national banking association shall knowingly violate, or knowingly permit any of the officers, agents, or servants of the association to violate, any of the provisions of this title, all the rights, privileges, and franchises of the association shall be thereby forfeited. Such violation shall, however, be determined and adjudged by a proper circuit, district, or territorial court of the United States, in a suit brought for that purpose by the Comptroller of the Currency, in his own name, before the association shall be declared dissolved. ”

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Source: Wikisource

Edward Douglass White, Yates v. Jones National Bank — Opinion of the Court

“ That this imposed a higher standard of conduct than was required by the statute is obvious, but is clearly also established by previous decisions of this court, pointing out that where by law a responsibility is made to arise from the violation of a statute knowingly, proof of something more than negligence is required; that is, that the violation must in effect be intentional. ”

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Source: Wikisource

Edward Douglass White, Yates v. Jones National Bank — Opinion of the Court

“ Stat. 1901, p. 3460 (formerly § 28 of the act of 1864) , a national bank is prohibited from acquiring real estate for purposes other than those specified in the act, and is forbidden to hold real estate, under certain contingencies, more than a specified length of time ”

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Source: Wikisource

Edward Douglass White, Yates v. Jones National Bank — Opinion of the Court

“ This writ of error is prosecuted to secure the reversal of a judgment of the supreme court of the state of Nebraska, affirming one entered by a court of Seward county, in that state, upon a verdict of a jury awarding damages against the defendants below, plaintiffs in error here, because of certain acts charged to have been done by them as officers and directors of the Capital National Bank of Lincoln, Nebraska. ”

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Source: Wikisource

Edward Douglass White, Yates v. Jones National Bank — Opinion of the Court

“ And this defendant alleges that if any liability attaches to him as a director or stockholder of said bank for any act done or duty neglected as set forth in said amended petition or otherwise, that such liability is determined and controlled by the national banking act concerning the management of national banks; and that, in determining the liability of this defendant, there is necessarily involved the construction of said national banking act relating to the duties of directors and stockholders of national banks. ”

Edward Douglass White

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