First Nat. Bank v. Barbee

This suit was brought by the First National Bank of Bipley to recover from C. B. Barbee and First National Bank of Dyersburg $10,000, evidenced by a draft drawn by Barbee on Prince & Hubbard, cotton buyers, following the bankruptcy and failure of the drawees to honor *358the draft. Barbee was alleged to be liable as drawer, and for the money advanced to him as such; while the liability of the Dyersburg Bank was based upon an alleged conversion of cotton represented by certain receipts pledged as collateral to the draft which bad been delivered to the bank in trust.

Barbee defended upon the theory:…