The Meek v. Centre County Banking Co. case in 1924 revolved around the issue of whether a bank could be held liable for aiding and abetting fraudulent activities by one of its customers, even if it was unaware that such fraud was taking place. The plaintiff, Mr. Meek, had invested money with an individual who subsequently went bankrupt due to fraudulent practices; this individual had been using his account at the defendant bank to carry out these transactions. The Supreme Court ruled in favor of the bank stating that there is no liability on part of a banking institution unless it has knowledge or suspicion about customer's fraudulent actions while transacting through their accounts.

The dissenting opinion in the Meek v. Centre County Banking Co. case argued that the majority's decision was inconsistent with previous rulings and principles of equity established by the court. The dissent contended that a bank, which had received money under mistake from an insolvent corporation, should not be allowed to retain it against creditors who would have been entitled to it if there hadn't been any error made. It further asserted that allowing banks to keep such funds would encourage negligence and lack of due diligence on their part when dealing with corporations' finances, as they could profit from mistakes without facing any consequences or liabilities for them towards other parties involved.