Joseph Rucker Lamar

“ There are some disadvantages of sending a check for collection directly to the bank on which it is drawn, but when such bank performs the dual function of collecting and crediting the transaction is closed, and, in the absence of fraud or mutual mistake, is equivalent to payment in usual course. First Nat. Bank v. Burkhardt, 100 U.S. 689, 25 L. ed. 768. In the present case it was as though an officer of the Macon bank had presented the check to the teller of the Nashville bank, and, on receiving the money, had paid it back over the counter for deposit to the credit of the Macon bank. ”

“ The law undoubtedly permits an insolvent to prefer one creditor over another, and allows such creditor to retain such preferential payment against all persons, except the trustee in bankruptcy, when the payment has been made within four months of the filing of the petition in bankruptcy, and with reasonable cause to believe that a preference would be effected. ”