This also assumes nobody swapped the white and black along the way. The scary thing about that is your 3 light tester would say it was fine but the case of your drill would have 120v on it.
I hadn't thought about that scenario, and we see it a lot. It reminds me of the electronics kit I had when I was a kid, it came with a radio antenna wire that had a blade on the end to plug into the neutral slot of a receptacle and use the building wiring for an antenna. The blade would only fit the wide slot on a polarized receptacle. I think about that a lot, what could have happened had someone mis-wired the receptacle. The kits were marketed to young electronics minded kids and students.