First National Bank v. Propp

— The principal facts are not in dispute. The defendant Propp was indebted to the plaintiff, the First National Bank of Cherokee, on the notes and account set up in the petition, in a sum in excess of $6,000. On March 21, 1922, Propp *810took to the defendant the First National Bank of Primghar a sight draft on a Chicago concern for $1,500, and a check, drawn by an insurance company in payment for a fire loss sustained by Propp in the sum of $8,358.05. He gave to the bank, with the draft and check, a document' dated on that day, signed by him, and reading as follows:

“I,.the undersigned, hereby…