Hoague v. Second National Bank

The plaintiff is a trustee succeeding one Doughty, who, by forging the countersigning name of the referee in bankruptcy to checks against, funds in the custody of the defendant presumably obtained and converted or misapplied the proceeds: There is only one question in the case. The judge says in his report that he would have found for the plaintiff, who now sues for those funds, except for Gen. Laws, Ch. 107, sec. 40, which in substance provides that no bank shall he liable to a depositor for *385moneys paid on a forged, unauthorized or altered negotiable instrument, unless within a year after…