Newco Land Co. v. Martin

ON MOTION FOR REHEARING OR TO TRANSFER TO COURT EN BANC.

The Committee has filed a motion for rehearing or, in the alternative, for transfer to Court en Banc, urging, among other things, that Sec. 3225 is controlling. Each of the two issues discussed below is essential to the Committee's case.

[10] Section 3225 authorizes creditors to accept the check of a corporation, firm, or copartnership in payment of the debt of an officer, agent, or employee of the corporation, firm, or copartnership "unless . . . such payee or other person, at the time of collecting same, had actual knowledge that said…