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COMMERCIAL TRADING CO. v. TRADE BANK & TRUST CO.

286 A.D. 722 (1955)

Commercial Trading Company, Respondent, v. Trade Bank and Trust Company, Appellant and Third-Party Plaintiff-Respondent. Federal Reserve Bank of New York, Third-Party Defendant-Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

November 29, 1955.

Attorney(s) appearing for the Case

Peter Gettinger of counsel (Gettinger & Gettinger, attorneys), for appellant and third-party plaintiff-respondent.

David S. Konheim of counsel (John J. O'Connor, attorney), for third-party defendant-appellant.

Sydney Krause of counsel (Bernard Wexler with him on the brief; Krause, Hirsch, Levin & Heilpern, attorneys), for respondent.

BASTOW, BOTEIN, RABIN and BERGAN, JJ., concur.

BREITEL, J. P.

This is an action on three checks by the drawer against the drawee bank, for payments made on the checks and charged to the drawer's account. The drawer contends that the payments and charges were improperly made because the named payee, a corporation, never properly indorsed the checks, and the proceeds were diverted by an officer of the payee.

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