People ex rel. Nelson v. Peoples Bank & Trust Co.

Prior to June 11, 1931, Tolmie Bros., Inc., of Rockford, Illinois, was indebted to the American Terrazzo & Tile Company for tile work as subcontractor in a sum in excess of $10,000 and on such date delivered to such company its check in the sum of $10,000 drawn upon the Peoples Bank and Trust Company of Rockford, Illinois.

Upon receipt of this check the said company executed a partial waiver of lien and attached the same to the check and placed such check and its waiver of lien with the First National Bank of Springfield, Illinois for collection and remittance. On the same day the First…