Case Name: SMITH v. PLANTERS' SAVINGS BANK
Court: Supreme Court of South Carolina
Jurisdiction: South Carolina
Decision Date: 1923-04-21
Citations: 124 S.C. 100
Docket Number: 11195
Parties: SMITH v. PLANTERS’ SAVINGS BANK
Judges: Mr. Justice Watts concurs.
Reporter: South Carolina Reports
Volume: 124
Pages: 100–111

Head Matter:
11195
SMITH v. PLANTERS’ SAVINGS BANK
(117 S. E., 312)
1. Banks and Banking — Bank Not Peotected by Paying Deposit to Alteenate Payee Aetee Depositoe’s Death. — Where owner of money deposited it in a bank in the name of himself and another, and certificate was made payable at maturity to either, the right of the other to withdraw the money was a mere power of attorney revocable by death of the owner.
2. Peinoipal and Agent — Powee Not Coupled With Inteeest Limited to Donoe’s Lifetime. — A power not coupled with an interest is limited to donor’s lifetime.
Before SeasE, J., Spartanburg, August, 1922.
Affirmed.
Action by W. McClure Smith as administrator of W. A. Bright, deceased, against Planters’ Savings Bank. Judgment for plaintiff and defendant appeals.
Messrs. Carlisle & Carlisle, for appellant,
cite: Certificate of deposit is, in effect, promissory note of Banks: 103 S. C., 266; 45 S. C., 563; 100 .Va„ 306; 110 Va., 229; 192 U. S., 138. Note payable to two payees in the alternative may be paid to either: Neg. Inst. Raw, Sec. 1, Subd. 8; 151 Id., 178; 74 Kan., 736.
Messrs. Lyles, Daniel &. Drummond, for respondent,
cite: Certificate of deposit payable to one of two payees named cannot be paid to the surviving payee after notice of the death of the other payee: 107 S. C., 369; 63 Md., 81; Magee, Banks and Banking (2d Ed.), 378; 27 S. C., 309.
April 21, 1923.

Opinion:
The opinion of the Court was delivered by
Mr. Justice Fraser.
The agreed facts are briefly as follows:
"The Planters' Savings Bank, the defendant herein, on February 5, 1920, received on deposit from W. A. Bright the sum of $3,550.00, for which it issued a certificate of deposit set out above. W. A. Bright died intestate in June, 1920, and on August 13th of the same year the defendant paid the amount of the certificate to J. G.- Bright upon his indorsement, knowing at the time that W. A. Bright was dead. Demand has been made upon defendant for the payment of the certificate, which demand has been refused. It is also admitted that, so far as this case is concerned, there was no gift shown from W. A. Bright to J. G. Bright, either in praesenti or by way of donatio causa mortis."
The certificate of deposit reads:
"Planters' Savings Bank, Greer, S. C., February 5th, 1920. No. 2531. This is to certify that W. A. Bright or J: G. Bright have deposited in this bank thirty-five hundred and fifty dollars ($3,550.00), payable to either order six months after date, with interest from date at the rate of 5 T/z per cent, per annum, on the return of this certificate properly indorsed. Interest after maturity at the rate of 4 per cent, per annum, Unless renewed. [Signed] R. M. Hughes, Vice President Cashier."
The only question in the case is: Was the bank authorized to pay the certificate of deposit to J. G. Bright after the death of W. A. Bright?
It is admitted that the money belonged to W. A. Bright, and after his death it was paid to J. G. Bright. Under these circumstances there was a mere power of attorney to withdraw the money. The death of the principal revokes a power of attorney.
"Power not coupled with an interest is limited to the lifetime of the donor." Gaston v. Gaston, 80 S. C., 157; 61 S. E., 393.
His Honor, Judge Sease, was right when he held that Sawyer v. Mabus, 107 S. C., 369; 92 S. E., 1029, is controlling in. this case.
The judgment appealed from is affirmed.
Mr. Justice Watts concurs.
Mr. Chiee Justice Gary did not sit.