This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 355.— A deposit receipt is issued which is payable to two persons or either of them; in the event of both dying, leaving wills disposing of the amount in different ways, what course should the bank take?
Answer.—Assuming that they did not die simultaneously, but that one survived the other for a longer or shorter time, the deposit became payable to the one of the two depositors who survived the other, and after his death to his executors. The claims of the beneficiaries mentioned in the two wills must be settled between the claimants and the executors of the survivor. The bank is not concerned.