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MUNSON v. AMERICAN NATIONAL BANK & TRUST CO. OF CHICAGO

Nos. 72-1609, 72-1610.

484 F.2d 620 (1973)

Max MUNSON et al., Plaintiffs-Appellees, v. AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, Defendant-Appellant. Max MUNSON et al., Plaintiffs-Appellants, v. AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 24, 1973.

As Amended on Denial of Rehearing August 21, 1973.

Attorney(s) appearing for the Case

Gale L. Marcus, Chicago, Ill., for Munson.

Richard S. Wisner, James D. Mowen, Dom J. Rizzi, Chicago, Ill., for American Nat'l Bank & Trust.

Before SWYGERT, Chief Judge, and KILEY and CUMMINGS, Circuit Judges.

CUMMINGS, Circuit Judge.

Pursuant to the terms of an escrow agreement, one Jack Walsh was to deposit $2,500,000 with the Chicago Title and Trust Co. (Chicago Title) as escrowee, whereupon Chicago Title was to disburse that amount by its own drafts to the various parties to the agreement. When on December 16, 1969, Walsh deposited what purported to be a $2,500,000 certified check drawn on a Florida bank payable to his order, Chicago Title issued, among 133 others,...

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