Virtue v. Danbury State Bank

The defense is grounded principally on a rule of defendant bank adopted and prominently posted in its lobby about one month before it received the check in controversy. The rule, so far as material, is:

"In receiving checks, drafts or other items for collection or for credit, this bank acts only as its customer’s agent. All items are received at owner’s risk, and, if credited, shall be credited’ conditionally, subject to payment, and may be charged back at any time until the proofs thereof, in money, have been actually received by this bank. * * * This bank may accept for the account of its…