Federal Intermediate Credit Bank v. Epstin

The opinion of the Court was delivered by

Mr. Justice Stabeer.

On January 15, 1926, the defendants executed and delivered to the Beaufort Bank, of Beaufort, S. C., their promissory note in the sum of $626.25, due June 15, 1926. The note was payable at the Beaufort Bank, and contained a provision that such bank was authorized to apply, on or after maturity, to the payment of the note, any funds in the bank belonging to the makers. By the terms of the note, the makers waived demand, presentment, etc. On April 13, the Beaufort Bank indorsed this note to the South Carolina Agricultural Credit…