509. Proof by pledgee of bill.

If a bill handed by the bankrupt to his creditor, even though indorsed1, was intended to be merely by way of deposit or pledge, it appears that the creditor should, before proof, sell or value the bill2. Where a bill is deposited by the acceptor with A, and A pledges it with B, the proof of B, who has no general property in the bill against the acceptor's estate in bankruptcy, would depend on the state of the accounts between the acceptor and A