Blank check holder acquires only direct creditor's rights and must strictly follow original terms.

The court ruled that a subsequent holder of a blank check acquires only the rights originally belonging to the direct creditor of the drawer. The defendant argued for broader transferability, but the court emphasized that filling out the check requires strict adherence to the initial declaration and the drawer's original will. Consequently, the defense was upheld, limiting the new holder's rights to those explicitly defined at the time of issuance.