84 Miss. 103 | Miss. | 1904
delivered the opinion of the court.
Appellant - was the owner of eleven checks, aggregating $1, 318.91, drawn prior to July 31, 1896, on appellee, by parties, all depositors with appellee, in amounts in excess of their checks. These checks were by appellant on said July 31st sent to the American National Bank of New Orleans, La., for collection and remittance, each check being indorsed, “Pay to the
The precise question here presented has never been passed upon or' considered by this court, and the authorities and the
It is not necessary for us to decide what remedy, if any, the holder of a check drawn by a depositor on a bank in which he has sufficient funds to pay such a check may have against the bank on which the check is drawn. That point is not presented for decision by the record here made, for the reason that appellant divested itself, as to third persons without notice, of all ownership by its general and unlimited indorsement and subsequent forwarding to its own correspondent, and its only right in the premises is that of a general creditor of the American National Bank. Citizens’ Bank v. Bank of Greenville, 71 Miss., 271 (14 So. Rep., 456); Brewing Ass’n. v. Clayton, 56 Fed., 759 (6 C. C. A., 108).
For these reasons, on the facts set out in the special pleas of appellee, appellant has no cause of action. Wherefore the judgment is affirmed.