Moore & Sinnott v. Louisiana National Bank
Supreme Court of Louisiana
APPEAL from the Civil District Court for the Parish of Orleans. Voorhies, J. ■_ When a bill of exchange with collaterals attached is sent to a bank for collection and with no other instructions, the duty is imposed on the bank of delivering the collaterals to the drawee when on the demand of the bank he accepts the bill.
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APPEAL from the Civil District Court for the Parish of Orleans. Voorhies, J. ■_ When a bill of exchange with collaterals attached is sent to a bank for collection and with no other instructions, the duty is imposed on the bank of delivering the collaterals to the drawee when on the demand of the bank he accepts the bill. If the bank on such acceptance refused to deliver the collaterals and loss ensued, it would be liable to the draw.er of the bill who transmitted it to the bank and liable also to the acceptor. See Morse on Banks and Banking; “ Drfty'collecting Bank concerning collateral…
1Opinion of the Court
The opinion of the court was delivered by
Breaux, J.
This is an action by plaintiffs, a firm in Philadelphia, against this defendant to recover the value of fifty barrels of whiskey sold by them to Oppenheimer & Co.
The latter directed the plaintiffs to draw on them, payable in New Orleans, ai one day’s sight, for the purchase price. The whiskey was in a bonded warehouse, for which plaintiffs held certificates.
*100They drew on the purchasers and attached their warehouse receipts (indorsed by them) to the bill, which was handed to the First National Bank of Philadelphia, which sent it with the…
2Cited by5 opinions
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