People Ex Rel. Nelson v. Peoples Bank & Trust Co.

The facts in this case are neither complicated nor disputed. On June n, 1931, Tolmie Bros., Inc., of Rockford, Illinois, (hereinafter referred to as Tolmie Bros.,) were indebted to the American Terrazzo and Tile Company, (hereinafter referred to as the terrazzo company,) and in part payment of that indebtedness sent a check for $10,000 to the terrazzo company drawn on the Peoples Bank and Trust Company of Rockford. Upon receipt of this check the terrazzo company executed a partial waiver of lien and attached it to the check and placed both the check and the waiver of lien with the First…