State National Bank v. Beacon Trust Co.

This is a bill in equity in which the plaintiff seeks to be reimbursed for loss sustained by it by reason of having paid the amount of a certificate of deposit upon which the indorsement of the payee was forged. The defendant Beacon Trust Company acquired all the assets of the Equitable Trust Company, the other defendant, and assumed and agreed to pay all its liabilities. The record contains a statement of agreed facts, and, in addition, oral evidence received respecting matters not included therein. Upon the agreed facts and the evidence submitted the trial judge made certain findings and…