Osborn v. War Finance Corp.

Osborn executed a negotiable promissory note to Bishop Banking Company, and that company transferred it to the War Einance Corporation, which placed the note back in the hands of the banking company, as its special agent, under a trust receipt, for collection. On the trial of the suit on the note, brought by the War Einance Corporation against Osborn, he testified, in support of his plea of payment, that he did not know that the bank had traded off the note,.and that upon being called upon by it for payment he instructed the president of the bank to convert into cash an unmatured…