Walker v. McLoud

1 Citing case

  1. State v. Broadway Nat. Bank

    153 Tenn. 113 (Tenn. 1925)   Cited 9 times
    In State v. Broadway National Bank (Tenn.) 282 S.W. 194, it is held that negligence to work an estoppel must be the proximate cause of leading the complainant into the mistake, and must occur in the same transaction.

    Such a duty does not, however, rest upon the drawee with reference to the signature of the payee or the signatures of the indorsers, and the drawee, in general, who pays out money on a forged indorsement, may recover such money from the holder who has presented and received the proceeds of the paper. Figuers v. Fly, supra; People's Bank v. Franklin Bank, 12 S.W. 716, 88 Tenn. 299, 6 L.R.A., 724, 17 Am. St. Rep., 884; United States v. National Exchange Bank, 29 S.Ct., 665, 204 U.S. 302, 53 L. Ed, 1006, 16 Ann. Cas., 1184; and see cases collected in note, L.R.A., 1916E, 539. Up to this point, as we understand the briefs, there is no difference between the parties hereto as to the law.