Tropena v. Keokuk National Bank

It appears without dispute that, on May 14, 1921, the appellant purchased of the appellee bank for $400 the latter’s'draft oh á bank located at Borne, Italy, for 6,861 lire, payable to himself. On June 6, 1923, appellant presented the draft to the drawer bank, and demanded payment thereof, which was refused. The appellant thereupon indorsed the draft, turned it over to the bank, and accepted the bank’s receipt there for. The receipt -stated that.it was deposited “to be sent for-sale and credit. ’ ’ The bank sent the draft to Knanth, Nachod '& Kuhn, of New York, dealers in foreign exchange,…