Capital Nat. Bank v. People's Bank & Trust Co.

Ethridge, P. J.,

delivered the- opinion of the court.

The Capital National Bank brought suit against the People’s Bank & Trust Company of North Carrollton, upon an instrument reading as follows:

“Payment stopped

“Carroll County Bank 85 — 537

“Carrollton, Miss., Dec. 4th, 1930

“Pay to the order of Arthur R. Vail, Financial Agent $100.00, with exchange. Value received and charge the same to account of Peoples Bank & Trust Co.

“North Carrollton, Miss.

“Gr. T. Lee, President.”

The indorsements on the draft were as follows: “For deposit and collection, A. R. Vail, Financial Agent. For deposit with Capital…