Union Bank & Trust Co. v. Girard Trust Co.

Opinion by

Mr. Justice Linn,

The use-plaintiff sues to recover back the proceeds of a clearing house due bill issued by the legal plaintiff (here called Union Bank) and paid through the clearing house. Defendant contends (1) that it took the due bill for value without actual knowledge of invalidity, or knowledge of facts imputing bad faith; (2) that if the due bill was invalid when issued, the transaction was subsequently ratified; (3) that, in any event, as defendant was acting with another as coexecutor in receiving the due bill, the defendant alone is not liable. We need consider only the…