Question 236. - A city bank asks by telephone if there are sufficient funds to the credit of a certain account to pay a cheque for a named amount. On being advised that sufficient funds are available the inquiring bank states that they are sending the cheque and asks that funds be held to meet it. We answer "Yes." Before the cheque comes the client stops payment of the cheque. Can the inquiring bank exact payment from us?

Answer. - No; the drawer is quite within his rights in countermanding payment before the cheque is presented for payment as defined in the Bills of Exchange Act, but as the drawee bank has promised to pay the cheque it would probably be liable to the inquiring bank. .