Where the banker on whom a crossed cheque is
drawn has paid the same in due course, the banker paying the cheque, and (in case such cheque has come
to the hands of the payee) the drawer thereof, shall respectively be entitled to the same rights, and be placed in the same position in all respects, as they would respectively be entitled to and placed in if the
amount of the cheque had been paid to and received by the true owner thereof.
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