Rhoads v. Peoples Bank & Trust Co.

Appellant agreed with one Hawkins, a non-resident, for the purchase of certain business property in the Town of Booneville. Execution of the agreement was to be effected by draft drawn by Plawkins upon Rhoads in the agreed sum of $14,000' to be sent with deed attached through the Third National Bank of Nashville to the Peoples Bank & Trust Company at Booneville. This procedure was followed, and the draft with deed to Rhoads attached reached the bank at Booneville on Friday, July 21,1944. On the same day, the appellee bank received a letter from Hawkins giving full instructions regarding the…