The American Elevator And Grain Trade, Vol. 25: A Monthly Journal Devoted To The Elevator And Grain Interests; June 15, 1907 (Classic Reprint)

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Excerpt from The American Elevator and Grain Trade, Vol. 25: A Monthly Journal Devoted to the Elevator and Grain Interests; June 15, 1907 Under the same date, at Falls City, Smith wrote and sent to the grain company, by mail, a letter, saying: I ship you today car No. Mo. P., loaded pounds wheat. See what you can' do for me. Have another small car later. On the following day the Omaha Bank receive...

Hardcover: 66 pages
Publisher: Forgotten Books (May 14, 2018)
Language: English
ISBN-10: 9780331428995
ISBN-13: 978-0331428995
ASIN: 0331428997
Product Dimensions: 6 x 0.2 x 9 inches
Format: PDF ePub Text djvu book

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and bill of lading; delivered them to 'and received the amount of the former from the grain company, credited the sum to the account of the Falls City bank, and notified the latter of the fact. Without further information or notice, the bank paid the amount over to Smith, who has not since been seen or heard from by any of the parties. After a delay of several days, the grain company learned that the supposed bill of lading was a forgery, and that no grain had been. Shipped to them as considera tion for the draft. Having demanded and being refused repayment of the money by the Falls City bank, an action was brought for its recovery. There was a judgment for the bank upon a de murrer which the Supreme Court of Nebraska affirms (nebraska Hay Grain Company vs. First National Bank of Falls City, 110 North western Reporter, The court holds that a bank which, without notice or suspicion of wrongdoing, receives a draft from the drawer for collection and demands and obtains payment of it from the drawee and in good faith pays the proceeds over to its em ployer, is not liable to the payor in damages, because the latter made payment without con sideration and in reliance upon a forged bill of lading which the drawer had attached to and caused to be forwarded with the draft.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.