Railroad Building, Loan & Savings Ass'n v. Bankers Mortgage Co.

The opinion of the court was delivered by

Thiele, J.:

The question raised by these appeals is the liability of an intermediate indorser to the maker of a check which had been negotiated by the wrongful and unlawful indorsement of the name of one of two joint payees. Two appeals are before us, but as the facts are substantially identical so far as the question raised is concerned, only one case will be noticed.

For convenience, the appellant, the Bankers Mortgage Company, will be usually referred to as the mortgage company; the appellee, *565the State Bank of Ottawa, as the Ottawa bank; the Merchants…