Allison Hill Trust Co. v. Sarandrea

Walter S. Schell, Inc., a Pennsylvania corporation, herein called the Schell Company, drew a bill of exchange, which was accepted without condition by the defendant. The bill is dated March 2, 1926, and is payable October 1, 1926. In this bill it is recited that “ the obligation of the acceptor hereof arises out of the purchase of goods from the drawer. The drawee may accept this bill payable at any bank, banker or trust company in the United States which he may designate.” The acceptor made it payable at the State Bank, Canastota, N. Y. The Schell Company duly indorsed the bill and it was…