Tennessee Products Corp. v. Broadway Nat. Bank

The Tennessee Products Corporation had a wood distillation plant at Lyles-Wrigley, Hickman County, Tennessee, where it produced charcoal, acetic acid and methanol. In this it used large quantities of cordwood. Its agent to buy the wood was J. C. Eakle. He would pay for it by issuing sight drafts on the corporation, payable to the order of the sellers at the American National Bank at Nashville, where the corporation kept its bank account; and on arrival of the drafts it would pay tbem by giving its check to the bank. A sample of the form of these drafts is as follows:

“TENNESSEE PRODUCTS…