Cottondale Planting Co. v. Diehlstadt Bank

— This is an action to have allowed as a preferred claim a demand against the Diehlstadt Bank in the hands of the commissioner of finance for liquidation. The court below refused to give the demand preference and this appeal followed.

Plaintiff’s claim for preference is based on two theories, and these are stated in separate counts in the petition. The first theory is that in handling the draft in question the relation of principal and agent, and not that of debtor and creditor, existed; The second theory is that even though the relation of debtor and creditor was created by the transaction…