Max Munson v. American National Bank and Trust Company of Chicago, Max Munson v. American National Bank and Trust Company of Chicago

CUMMINGS, Circuit Judge.

Pursuant to the terms of an escrow agreement, one Jack Walsh was to deposit $2,500,000 with the Chicago Title and Trust Co. (Chicago Title) as es~ crowee, whereupon Chicago Title was to disburse that amount by its own drafts to the various parties to the agreement. When on December 16, 1969, Walsh deposited what purported to be a $2,500,000 certified check drawn on a Florida bank payable to his order, Chicago Title issued, among 133 others, its draft in the amount of $80,000 to Gale L. Marcus as payee and as agent and attorney for plaintiffs Max Munson (Mun-son) and…