American Union Bank v. Gubelman

Martin, J.:

This action was brought to recover $51,562.50, with interest from March 15, 1917, being part of the sum of $120,312.50 paid by the plaintiff to the defendants on a transaction in foreign exchange between the parties whereby, in consideration of such payment of *489$120,312.50, the defendants undertook to establish by wireless a credit in the Deutsche Bank, Berlin, Germany, of 700,000 marks, to the credit of the Bohemian Union Bank, Prague, Austria, plaintiff’s correspondent. The transaction occurred on or about March 15, 1917.

The defendants, unknown to the plaintiff, undertook to make…