National Surety Co. v. Stockyards National Bank

The surety company, plaintiff below, was defeated on trial to the court on an agreed statement of facts and brings error. The surety company was subrogated to the rights of the American Commission Company. For brevity and clearness we shall spealc of the commission company as plaintiff.

The substantial facts are as follows: The commission company had an account at the defendant bank. It intrusted to one Decker, its employe, blank checks duly signed by its officers, with authority to fill them to pay bills not exceeding $100. The bank did not know of this limitation of authority, and it is not…