Trust Co. Bank v. Atlanta IBM Employees Federal Credit Union

Jordan, Justice.

We granted certiorari to review the Court of Appeals’ decision in Atlanta IBM Employees Federal Credit Union v. Trust Co. Bank, 150 Ga. App. 253 (257 SE2d 346) (1979), wherein that court reversed the trial court’s judgment in favor of the Trust Company and First National Bank. We reverse.

We will briefly set out the facts: The Credit Union (respondent/drawer) wrote a check for $5,000 on its account with the First National Bank (petitioner/drawee) payable to the order of an employee and a car dealer. The employee deposited the check in his own bank account at the Trust Company…