Alexander County Nat. Bank v. Conner

Citations

• 110 Miss. 653
• 70 So. 827

Syllabus

<p>Bane at Banking. Collection of drafts. Trust. Insolvency.</p> <p>C ;de 1906, section 4852, providing that a bank or other person collecting a draft with a bill of lading attached shall retain the money so collected for the space of ninety-six hours after the delivery of the bill of lading, is intended merely to give the debtor or consignor sufficient time to investigate his purchase and if dissatisfied, to sue by attachment in the local courts, and' in such case a bank collecting for the owner’s drafts with bill of lading attached does not hold the money collected in trust so that a trust may, on the insolvency of the collecting bank be impressed upon its assets, but the owner of the drafts is a mere genera] creditor.</p>