Leach v. Battle Creek Savings Bank

—The Battle Creek Savings Bank closed its doors on February 20, 1924. Subsequently, the state superintendent of banking was appointed receiver, and the bank is being liquidated as insolvent. The appellee Anderson, Lipton & Company operated a bank at Ida G-rove. On February 19, 1924, the Battle Creek Savings Bank drew its draft for $500 on the Peoples Trust & Savings Bank of Clinton, payable to the order of the appellee, and forwarded the draft by mail to the appellee. On presentation of the draft at the drawee bank, after the Battle Creek bank had closed, payment was refused, and the draft…