Macon Grocery Co. v. Citizens Bank

1. Where checks upon other banks are deposited in a bank by a person having a general deposit against which he is allowed to draw checks, although the checks may be indorsed without restriction by the depositor, and although it may be assumed that, without more, the title to the checks passes to the bank in which they are deposited, and that, as respects them, the relation of debtor and creditor arises between the bank and the depositor (City of Douglas v. Federal Reserve Bank, 271 U. S. 489, 46 Sup. Ct. 554, 70 L. ed. 1051), yet where the checks are accepted by the bank only as the…