Lightfoot v. Bunnel

Citations

• 76 Pa. Super. 468
• 1921 Pa. Super. LEXIS 171

Syllabus

<p>Bañiles — Banhing—Negotiable instruments — Chedks—Collection —Lien of collecting banh.</p> <p>A bank which receives a check for collection from another bank and gives the latter credit therefor, against which the forwarding bank checks in excess of such credit, is a holder in due course and also has a lien on the check. Under such circumstances it is immaterial that the check was deposited with the forwarding bank for collection, and that it failed, before the collecting bank was actually in the possession of the funds.</p> <p>Where a check was deposited with a bank for collection, which, after sending it to an intermediate bank and receiving credit therefor, failed, the depositor of the check cannot restrain the collecting bank from receiving the proceeds of the check and reimbursing itself. In such ease the depositor must bear the result of the insolvency of her agent.</p>