Creditors Claim & Adjustment Co. v. First Seattle Dexter Horton National Bank

This is a garnishment controversy. Its correct disposition depends upon whether or not the following draft became, by its original issuance, a duly accepted negotiable draft or bill within the general rule that a draft or bill drawn upon the drawer, himself or itself, thereby becomes, in legal effect, an accepted draft or bill so that the indebtedness evidenced thereby becomes owing to its subsequent holder, for value, in good faith, and not an indebtedness owing to the original payee, and, as such, subject to garnishment at the suit of his creditor.

“583.23 December 26, 1930

Fidelity-Phenix…