Farmers Union Coop. Ass'n v. Commercial State Bank

Defendant bank exchanged cash over the counter for two checks payable to plaintiff corporation. Plaintiff claimed the proceeds on the ground of unauthorized endorsements by Lester J'. Schulz, its general manager. The district court found generally against plaintiff. The question on appeal is whether the court erred in not finding or concluding that plaintiff had not authorized the transactions.

Only three witnesses testified: Raymond D. Grosse, defendant’s vice president and cashier; Edward M. Farr, a director of plaintiff since March 1965 and president since 1968 or 1969; and Vern E. Le…