Blake v. Hamilton Dime Sav. Bank

Citations

• 19 Ohio C.C. Dec. 465

Syllabus

<p>BANKS AND BANKING — BILLS, NOTES AND CHECKS.</p> <p>Jelke, Swing and Giffen, JJ.</p> <p>1. Payee Procuring Certification of Check cannot Stop its Payment to his Indorsee.</p> <p>A check certified by the drawee bank at the request of the payee thereof is the obligation of the bank, which when indorsed according to the terms of the certificate and delivered is payable to bearer or indorsee on demand free from any claim of the drawer and he has no authority to stop its payment; although if certification had been procured by the drawer before -delivery to the payee the drawer might stop payment thereof to the payee.</p> <p>[For other cases in point, see 1 Cyc. Dig., “Bills, Notes and Checks,” §§ 542, 543. — Ed.]</p> <p>2. Relation of Bank and Depositor of Certified Check is that of Debtor and Creditor only.</p> <p>Receiving a certified check of another bank and crediting it to the account of a depositor upon his indorsement thereof does not make the receiving bank a purchaser for value. The relation between the depositor and bank being that of debtor and creditor, and the bank gets only such title therein as its depositor had.</p> <p>[For other cases in point, see 1 Cyc. Dig., “Banks and Banking,” §§ 133-140. — Ed.]</p> <p>[Syllabus approved by the court.]</p>