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Bills And Notes -- Principal And Agent--Payment To Agent Of Drawer Upon Indorsement Forged By The Agent
Michigan Law Review
A was an agent of P for the purpose of securing applications for loans and disbursing the money to the borrowers. The custom was for P, after approving the application, to send to A a check drawn on D bank, payable to the joint order of A and the borrower. It was also the custom for A, in following out the course of dealing outlined by P, to secure the borrower's indorsement, add his own, deposit the check to an agency account in X bank, and then pay out the money to the borrower by personal checks on his agency …
Recovery On Negotiable Instruments After Blanks Improperly Filled
Recovery On Negotiable Instruments After Blanks Improperly Filled
Michigan Law Review
At the request of a debtor a person signs a note, the amount being left blank, but on the understanding that it should be filled in with the amount of a certain account; by the principal debtor the incomplete note is delivered to the agent of the payee with instructions to fill in the amount of the account as agreed with the surety; the payee's agent, however, fills in a much larger amount. What if anything, should the payee recover from the surety in a suit on the note? A late case in Indiana allows recovery in the amount which …