Glens Falls Indemnity Co. v. Chase National Bank of New York

This is an action by one of two copayees of a check against the defendant bank whose predecessor accepted the check for deposit in the personal account of the president of the other corporate copayee and used the funds to pay this president’s personal debt to the defendant bank. It is alleged “ that the plaintiff endorsed said check as follows: ' Payment approved Glens Falls Indemnity Co., by Sidney G. Barnett, attorney,’ and caused the same to be delivered to one Michael F. Longo, President of the Adnaloy Realty Corporation, the said endorsement and delivery constituting a consent and…