Commercial Bank v. Hardy

Citations

• 97 Miss. 755
• 53 So. 395

Syllabus

<p>1. Public Funds. Banks and banking. Code 1906, § 3485. Preferences. Assignments.</p> <p>The preference over other creditors given by statute (Code 1906, § 3485) to a tax collector or other officer having the custody of public funds to secure the same when deposited in a bank or other depository is assignable by the officer to one who upon failure of the bank advances to him the money necessary to make his official settlement.</p> <p>2. Same. Same. Bank check. When failure to present excusable.</p> <p>Where a bank check was drawn on a,suspended bank for the purpose of assigning the drawer’s deposit and neither party contemplated its presentation for payment according to the usual course of business and knew that it would not be paid if so presented, the drawee loses none of his rights by failure to so present it.</p>