Exchange Bank v. . Monteath

There are two grounds upon which, in my opinion, the plaintiffs can recover upon these drafts, and the defendant's liability upon them is unquestionable.

1. The drafts were made and issued by the two partners, Joy and Hoyt, in the name of the partnership, and although the proceeds of the drafts did not inure to its benefit, it must be held liable.

2. The acts of Joy and Hoyt in making and issuing these drafts, must, under the circumstances, be held as binding upon the defendants, their principals, for whom they acted as agents; and as such, clearly and undeniably, they had authority to make,…