Miller v. Northern Bank

Before the passage of the Negotiable Instruments Law (ch. 356, Laws of 1899) it was the rule in this state that the giving of a check for value on an ordinary bank deposit was intended as an assignment of the fund pro tanto as between the maker and the payee. Raesser v. National Exchange Bank, 112 Wis. 591, 88 N. W. 618. That rule was abolished by the Negotiable Instruments Law. Under that act a check of itself no longer operates as an assignment of any part of the funds to the credit of the drawer with the bank, and the bank is not liable to the holder, unless and until it accepts or…