American Underwriting Corp. v. Rhode Island Hospital Trust Co.

This is an appeal from a judgment entered in the Superior Court for the defendant, the Rhode Island • Hospital Trust Company (hereinafter referred to as the bank or Hospital Trust) in a suit on an endorsement of a draft by the plaintiff, American Underwriting Corporation (hereinafter referred to as American Underwriting).

While in this case the facts are not in dispute, the factual situation is highly unusual. A proper understanding of the case requires a detailed explanation of the financial procedures pursuant to which drafts similar to the one under consideration .here are issued.

American…