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W. H. EMERSON, Appt.,
NORTH AMERICAN TRANSPORTATION & TRADING COMPANY.
Illinois Supreme Court — April 19, 1922.
(303 Ill. 282, 135 N. E. 497.)
Limitation of actions-certificate of deposit.
1. The Statute of Limitations does not begin to run upon a certificate of deposit until demand made.
[See note on this question beginning Bank certificate of deposit where demand to be made.
2. When a corporation discontinues business at the place where it issued a certificate of deposit, demand need not be made at a place other than that of its residence and principal place of business in another state.
APPEAL by plaintiff from a judgment of the Appellate Court, First District, affirming a judgment of the Municipal Court of Chicago, (Cook, J.) in favor of defendant in an action brought to recover the amount alleged to be due on a certificate of deposit. Reversed.
The facts are stated in the opinion Messrs. Knapp & Campbell, John R. Cochran, and Leonard Ferris Martin for appellant.
Messrs. Judah, Willard, Wolf, & Reichmann for appellee.
on page 7.]
reasonable time for demand upon certificate of deposit.
3. The reasonable time within which demand must be made upon a certificate of deposit issued for money deposited for safe-keeping is not governed by the limitation period fixed by statute for actions upon accounts. [See 3 R. C. L. 582.]
Cartwright, J., delivered the opinion of the court: The appellant, W. H. Emerson,
of the court.
brought this suit in the municipal court of Chicago on June 15, 1917, to recover the amount of a certificate of deposit made by the appellee, the North American Transportation & Trading Company, for $10,000 deposited with the defendant on March 31, 1900, at Nome,