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FIRST NATL. BK. OF ELWOOD v. UNIVERSAL C.I.T.

No. 19,215.

132 Ind. App. 353 (1960)

170 N.E.2d 238

FIRST NATIONAL BANK OF ELWOOD v. UNIVERSAL C.I.T. CREDIT CORPORATION.

Court of Appeals of Indiana.

Rehearing denied December 19, 1960.

Transfer denied October 16, 1961.

Attorney(s) appearing for the Case

Hugh E. Reynolds, Hugh E. Reynolds, Jr., Locke, Reynolds, Boyd & Weisell, of counsel, of Indianapolis, Robert L. Austin and Johnson & Austin, of Anderson, for appellant.

Leo M. Gardner, Jerry P. Belknap, Eugene C. Miller, Jr., Barnes, Hickam, Pantzer & Boyd, of counsel, all of Indianapolis, and William Peck, of Anderson, for appellee.

KELLEY, J.

Appellee was the payee named in two checks given it by an automobile dealer. Said checks were drawn on appellant bank. On February 5, 1954, appellee endorsed each of said checks "for deposit only" and deposited them in its depository, Merchants National Bank, Muncie, Indiana. The latter named bank forwarded said checks by mail to The Indiana National Bank, of Indianapolis, Indiana, and the latter received the same February 6, 1954.

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