Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1904-09-10
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Slmportant Decisions
Observation-Disclosures
RETTING-LIABILITY.

BETTING-LlAl3lL Y.
Plaintiff was a candidate for Office,
and a few weeks before the date set
for election, one Wright and one Nc
Rae each bet 500 on the result of the
election. The money was put in an
envelope and delivered to defendant
as stakeholder. 1t was agreed be-
tween the parties to the transaction
that if plaintiff was nominated, de-
PENDANT was to turn the money over
to Wright, while if plaintiffs oppo-
nent was nominated the money should
by Wright was obtained from plain
tiff and was bet for him. On the day
before the election, Wright went to
defendant and told him the bet was
withdrawn, instructing him not to
pay over the money. On the after
noon of the election, plaintiff also
notified defendant to the same effect.
Plaintiff was defeated and defendant
paid the money over to McRae. Plain
tiff brought this action. Held that
the defendant as stakeholder, after
being notified that the bet had been
withdrawn and being instructed not to
pay the money over to the other party,
was bound to follow such instruc-
lions and the retracting party may,
after demand upon him for the money
so deposited, recover same from the
stakeholder. McLennon VS.. Whiddon,
As S. E. 2o1 (Ga.)
DEEDS-LIFE ESTATES.
The grantor of deed to his daugh-
fer stated to the scrivener that he de-
sired to provide for his daughter by
the deed in case she should outlive him,
and fo~ that purpose warranty deed
to the I in question was executed,
the wore, assigns" being erased In the
two places where 1t appears in the deed
for the purpose, as the scrivener testi-
fed, of preventing the grantee from
conveying her interest. He also testl-
fed that the grantor wanted to convey
to the grantee for life only and the
record of the deed showed that the
words land assigns" where they first
appeared in the deed were erased, but
they were not so erased where they
were used in the last part Of the deed.
Held. that the evidence was sufficient
to establish that the grantor intended
to convey a life estate only, and that
the deed failed in such a purpose oy
mistake of the scrivener.
Newland VS.. Baptist church, 100 N.
W., 612 (Mich.)
BANKS-D1RECTORS.
The laws of Missouri declare that a
bank may sell all kinds of property
coming into its hands as collateral Sc
curity for loans, but forbids an invest
ment of funds in trade or commerce. A
bank, on sale of corporate stock or a
corporation which it held as security,
purchased the stock, and thru it's Off
GERS ran the company, which traded IN
coal, for four years at continued loss
Held, that the directors Of the bank
were liable for the loss in q suit by
the receiver, where they had been neg.
ligent in managing the bar tone W..
Rottman, 50 s. w. Is (Mo.).
OBSERVATION-DISCLOSURES.
A husband and wife agreed that his
land and theirs should be conveyed to
child, who should convey portion to
her, and on the husbands death divide
the remainder among the children. A
deed to the child of land held by the
husband and wife in common mista-
Kenly described ldHu lHdl lAey uiu nv
own, and was not executed that 1t
would have passed the title to the LAND
intended. After the husbands death
the division was made of the land
which had been intended, and the chil-
dren went into occupancy. The widow
was not party to the division, and
all parties were ignorant of the mis-
take; and while the widow took all
the personally, it was given her by the
children, and was no more than the law
allowed her. Held, that she was not
estopped from claiming the land which
she and her husband had intended to
convey. Harrison VS.. McReynolds, 80
S. w. 120 (Mo).