Simons v. Scirocco

The trial court found the following facts. The defendant Reginald Pickhardt had embezzled a large sum of money from his employer. He agreed to secure substantial indorsers for a note to cover his obligation. On or about February 3, 1937, the plaintiff prepared a note for $5250, the amount of the loss as computed at that time, and gave it to Pickhardt for the purpose of having it indorsed. Soon thereafter Pickhardt returned it with the names William Hill, Frank Scirocco, Charles O. Pickhardt and J. Pitel indorsed thereon. The plaintiff questioned the financial responsibility of these…