Risto v. First Nat. Bank of Madison

Full title: Nako Risto, Appellant, v. First National Bank of Madison, Appellee…

Court: Appellate Court of Illinois, Fourth District

Date published: Mar 31, 1942

314 Ill. App. 403 (Ill. App. Ct. 1942)

41 N.E.2d 556

Opinion

Opinion filed March 31, 1942 Rehearing denied May 14, 1942

NEGOTIABLE INSTRUMENTS, § 177^_ — liability of drawee for forged draft. Where the plaintiff depositor authorized another to surrender certificates of deposits when they became due in exchange for new ones of like tenor and effect, and the agent for this purpose exchanged the last certificate for a bank draft without plaintiff's knowledge or con ent, forged plaintiff's name on it, cleared it through another bank, and the drawee bank paid it, the forged instrument was void, and, in a suit on the original time certificate, the plaintiff was entitled to judgment.

_ See Callaghan's Illinois Digest, same topic and section number.

Appeal from the Circuit Court of Madison county; Hon. D.H. MUDGE, presiding.

Reversed and remanded with directions. Heard in this court at October term, 1941.

John B. Harris, for appellant;

R.W. Griffith and Kramer, Campbell, Costello Wiechert, for appellee.

Opinion by PRESIDING JUSTICE STONE.

"Not to be published in full." Opinion filed March 31, 1942; rehearing denied May 14, 1942.