National Bank of Commerce v. Baltimore Commercial Bank

This case arises out of a trade acceptance drawn on May 13th, 1920, by the United Iron & Metal Company on the Hess Steel Corporation for the sum of $5,184.36, payable sixty days after date, which was accepted by the drawee on May 13th, 1920, and made payable at the Rational Bank of Commerce, and on the same day was. discounted with the appellee. On the day of maturity this trade acceptance was presented at the office of the appellant and certified by it. At the time of such certification the Hess Steel Corporation had two checking accounts with the appellant. In one of these, the balance on…