Leach v. Mechanics Savings Bank

Two primary questions ■ are propounded on this appeal. First: Does a draft drawn in the ordinary form constitute an- assignment pro tanto, in law or in equity, of the funds in the hands of the drawee to the credit of the drawer before the acceptance or certification of such draft? Second: Do the record facts, other than the mere execution and delivery of the drafts .involved in this action, disclose and constitute an assignment of the funds in question so that a court of equity will recognize the holder’s claim as superior to that of the receiver of the drawer, appointed after the issuance of…