Master Consolidated Corp. v. BancOhio National Bank

Master has appealed to this court on the grounds that BancOhio, as trustee, acted negligently in disbursing monies from the bond construction fund without conducting an independent investigation of the propriety of Glueckert’s request for disbursement. Specifically, Master argues that BancOhio dealt with Master’s purported agent, Glueckert, at its own risk, that BancOhio should have exercised diligence and prudence to ascertain the authority of such purported agent prior to disbursing bond proceeds, and that because it failed to do so, BancOhio should reimburse Master for the misdirected…