Fidelity and Casualty Co. v. Hellenic Bank Trust Co.

The plaintiff is the assignee of Great American Insurance Company. o It was the practice of that company in the payment of certain obligations to issue a check when a written order or slip requesting it, initialed by the head of one of its departments and approved by a senior accountant, was submitted to the proper officers; the latter would then sign the check without further inquiry, as it was impractical for them to *41investigate separately the purpose of each of the numerous checks which were necessarily drawn in connection with routine business. One Bmmens was a trusted department head in…