Atlantic Trust Co. v. Subscribers to Automobile Insurance

This is an appeal, by a corporation engaged in banking, from a judgment procured against it by the appellees for amounts misappropriated by their agent, by endorsing checks drawn to their order and depositing them in his private, individual checking account in the trust company, and then checking the money out for his own purposes. The trial court, in its rulings on prayers for instructions and on objections to testimony, held that there was no express or implied authority in the agent to endorse and deposit the cheeks as he did, and excluded from the consideration of the jury evidence…