First Nat. Bank v. Crabtree

The defendant, Crabtree, sold cattle to one Jahnsen, who drew a draft against Rosenbaum Bros., of Chicago, consignees of the cattle, for their purchase price, of one thousand, seven hundred and seventy-eight dollars and forty-six cents. The draft was made payable to Crabtree. The bill of lading was also given to Crabtree by Jahnsen. Crabtree sold the draft to the plaintiff, indorsed it in blank, and also turned over to the plaintiff the bill of lading. The draft was by the plaintiff forwarded to its correspondent at Chicago, presented to Rosenbaum Bros., and payment refused. It was then…