Central Mercantile Co. v. Oklahoma State Bank

Citations

• 83 Kan. 504
• 112 P. 114
• 1910 Kan. LEXIS 572

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Sales — Purchaser of Draft with Bill of Lading Attached Not Liable as a Vendor. Where the seller of goods ships them and makes a draft upon the purchaser, with the bill of lading attached, one who buys the draft and receives payment thereof from the drawee is not liable for the return of any portion of the proceeds on account of any defect in the quality of the goods.</p> <p>2. -Payment of Draft Guaranteed. This rule is not affected by the fact that the draft was bought in reliance upon a written guaranty of its payment, in which the bill of lading was described as covering goods of a designated quality.</p> <p>3. Parties — Voluntary Appearance — No Rights Waived. Where, under the circumstances stated, the drawee, after paying the draft to a collecting agent, seeks to hold the proceeds by garnishment as the property of the drawer, the owner waives no rights by intervening and asserting his title.</p>