Summary
In Hillsley (pp. 30-31, 263 N.Y.S.2d pp. 580-581), the court held that a drawee bank, which paid a certified check over a forged indorsement, could not rely upon the defense that the funds eventually reached the rightful payee where the proceeds of the check were not applied by the payee for the purpose intended by the drawer.
Summary of this case from Eatinger v. First Nat'l. Bank of LewistownOpinion
Argued November 23, 1966
Decided December 29, 1966
Appeal from the Appellate Division of the Supreme Court in the First Judicial Department, RUSSELL G. HUNT, J.
John E. Knauf for appellant.
Irving I. Waxman and Lester R. Rubin for plaintiff-respondent.
Lambert L. Ginsberg for Union National Bank of Troy, respondent.
Judgment affirmed, with costs; no opinion.
Concur: Chief Judge DESMOND and Judges FULD, VAN VOORHIS, BURKE, SCILEPPI, BERGAN and KEATING.