Legal Opinion
American Surety Co. v. Palmer
New York Court of Appeals
Decided March 3, 1925PublishedCited by 21 opinions
1Opinion of the CourtAndrews, J.
One Wilmath was a customer of the City Bank Trust Company of Syracuse. In the spring of 1922 he deposited in that bank three checks on other banks aggregating $19,000 drawn to his order by outsiders and indorsed by him. They were all credited to his account although marked for collection. When presented for payment, payment was refused and they have never since been made good. Yet Wilmath was permitted to draw against them to the amount of $18,715.09. The City Bank Trust Company had a policy of insurance designed to protect it against loss due to the dishonest act of any employee issued by…
2Cases cited2 opinions
- Aetna Life Ins. Co. v. MiddleportSupreme Court of the United States · 1888
- McGrath v. . Carnegie Trust Co.New York Court of Appeals · 1917
3Cited by21 opinions
- Federal Insurance v. Arthur Andersen & Co.New York Court of Appeals · 1990
- Blue Cross & Blue Shield of New Jersey, Inc. v. Philip Morris, Inc.District Court, E.D. New York · 2000
- Chemical Bank v. MeltzerNew York Court of Appeals · 1999
- Pandora Industries, Inc. v. Paramount Communications Inc. (In Re Wingspread Corp.)District Court, S.D. New York · 1992
- Bunge Corporation v. The London and Overseas Insurance Co., the London and Overseas Insurance Co., Third-Party v. Brooks Banker, as Treasurer of American Express Company, Third-Partydefendant-AppelleeCourt of Appeals for the Second Circuit · 1968
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