Taylor v. Merrill Lynch, Pierce, Fenner & Smith, Inc.

MYERS, Associate Judge.

Appellee is a securities dealer with whom appellant kept a trading account, in his name only. Appellant’s estranged wife, residing in the state of Washington, who was not authorized to draw on the account, wrote to appellee saying that an emergency had arisen and asked to withdraw $1,000.00. At that time the account contained a balance of $1,072.14. Appellee drew a check for $1,000.00, payable to appellant, mailed it to his wife at her residence, and debited appellant’s account. Apparently the wife signed appellant’s name as endorser and cashed the check. Upon learning…