Aritor Corp. v. Chase Manhattan Bank

Plaintiff appeals from a judgment rendered in favor of the defendants after a nonjury trial.

Plaintiff instituted this action against its drawee bank for payment of a check in the amount of $49,500 on an alleged forged indorsement. This check was made payable by plaintiff to its dummy president and certified on August 21, 1962. The trial court, in rendering judgment for the defendant and dismissing the third-party action, held that the check was made to a fictitious person within the meaning of subdivision 3 of section 28 of the Negotiable Instruments Law, thereby it became bearer paper. The…