National Deposit Bank of Owensboro v. Ohio Oil Co.

Opinion of the Court by

Judge Clay

Affirming.

On July 18, 1928, tlie National Deposit Bank of Owensboro cashed the following check, which was indorsed by the payee, C. A. Libs, and placed the proceeds to his credit:

“Marshall, Ill. July 18, 1928 No. 112

“The Dulaney National Bank 70—559

Dist. 7

“Pay to the order of C. A. Libs $9,200.00 Nine Thousand Two Hundred Dollars “Agent’s Disbursing Account

Roy F. Keown.”

On July 26,’ 1928, the bank received notice from the Dulaney National Bank that the Ohio Oil Company had stopped payment on the check. Before' receiving this notice, Libs had drawn three checks…