Equitable National Bank v. Griffin & Skelley Co.

This appeal is by the defendant, a corporation, from the judgment and from an order denying a new trial. It is conceded that the facts are fairly stated in the findings. From the findings it appears that the appellants had dealings with A. R. Clark & Co. *694 of Cincinnati, Ohio. They bought and sold goods to and from each other. It was the understanding and agreement between them that each firm should draw upon the other as shipments were made; bills' drawn by defendant upon A. R. Clark & Co. were drawn payable sixty days after acceptance, but those drawn by A. R. Clark & Co. upon defendant were payable at sight, less one and one-half per cent for cash. December 8, 1892, A. R. Clark & Co. sold and shipped to defendant goods to the amount of six hundred and seventeen dollars and fifty cents, and thereupon mailed the bill to the defendant, and also, in pursuance of the previous agreement, drew a bill of exchange on the defendant payable at sight to plaintiff for the amount of the goods shipped. The bill of exchange was delivered to plaintiff, which thereupon paid the amount to A. R. Clark & Co.

The bill was then sent to plaintiff’s agent in San Francisco for collection, being…