Sellars v. First National Bank in Henderson

The defendants are not prosecuting a claim against the administrator which had been denied. They are merely asserting the right to apply the proceeds of collateral in their possession to the satisfaction of obligations for the payment of which, said collateral was pledged. Furthermore, the original administrator signed the creditor’s agreement, and the agreement entered into by him with the' bank at the time said deposit was made expressly recites that neither party waives any rights or defenses. C. S., 100 has no application and the defendants are not barred by the terms thereof from…