Freeman Shoe Corporation v. Dorman

Opinion of the Court by

Chief Justice Stites—

Affirming.

The question for determination in this case is simply whether or not the holder of a certified check is entitled to priority of payment in the distribution of the assets of an insolvent state bank. The material facts are stipulated. On November 2, 1931, the check here in ’ question was drawn by Clark Houchins on the Pendleton Bank of Falmouth, in the sum of $217.74, payable to the Freeman Shoe Corporation. The cheek was duly certified by the bank and was deposited in Beloit, Wis., properly indorsed, on November 5, 1931. The drawer of the…