In re Zimmerman & Forshay

HAND, Circuit Judge.

TMs is a companion ease to In re Gubelman, Ex parte First National Bank of Trinidad, 13 F.(2d) 732, decided herewith. There are some differences in fact:

The bankrupts, as drawers, remained generally liable on the draft, and had made no specific contract with the holder (or drawer)' to transfer any credit on the drawee’s books’. Thus the ease is somewhat weaker for the appellant. Nevertheless it appears to us that the skeleton of the transaction is the same. Although it is not so proved, we think that we must assume that when, on receipt of the advice, the drawee made the…