If the estate of Jennie E. Mackay were to sue the Coney Island Bank, undoubtedly it could recover, subject, of course, to any equitable defenses available to the bank. Graves v. American Exchange Bank, 17 N.Y. 205; Marovich v. American Exchange Irving Trust Co., 132 Misc. Rep. 128, 229 N.Y.S. 110; Wolfin v. Security Bank of New York, 170 App. Div. 519, 156 N.Y.S. 474, affirmed without opinion in 218 N.Y. 709, 113 N.E. 1068. That there may be a real and valued equitable defense which the bank could raise in an action by the Mackay estate is indicated in the proofs, perhaps sufficiently to create an equitable estoppel. Third National Bank v. Merchants' National Bank, 76 Hun, 475, 27 N.Y.S. 1070.