Peoples Savings Bank v. Playdium Lanes, Inc.

The Playdium Lanes, Inc., a corporation, in 1962 had opened an account at the Peoples Savings Bank. The signature card, covering all transactions, indicated that the account should be signed by any two officers, the president, vice president, or treasurer. Checks were usually stamped, “Pay to the Order of Playdium Lanes, Inc.” with no signature being placed thereon; the checks then were placed in the bag and deposited in the account. The bank placed a certain designated amount of change in the bag for the registers.

In July, 1962, one Detwiler was working for Playdium, and one Self was Vice…