United States Fidelity and Guaranty Co. v. Barry

The Broadway Capital Corporation (plaintiff's assignor) was a depositor in the Manufacturers Trust Company, and its checks, when signed by Edward A. Blake, its assistant secretary, and also by either its secretary or its assistant treasurer, were entitled to payment. Blake had opened and was carrying a rpeculative trading account with defendants, a firm of stockbrokers, tu two occasions, when it became necessary or expedient for him to put the defendants in further funds so as to protect his personal account, Blake delivered to them a check drawn upon the bank account of the Broadway Capital…