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RUTHERFORD v. DARWIN

No. 4108.

622 P.2d 245 (1980)

95 N.M. 340

George A. RUTHERFORD, Harold V. Larkin and Rancho Village Partners, a New Mexico General Partnership, Plaintiffs-Appellees, v. Tom DARWIN, The Settlement, Ltd., First National Bank in Albuquerque, and John C. Boydston, Defendant-Appellant. BOMUR TELEPHONE INTERCONNECT COMPANY, Third-Party Plaintiff, v. GEORGE A. RUTHERFORD, INC., Third-Party defendant.

Court of Appeals of New Mexico.

June 24, 1980.

Attorney(s) appearing for the Case

William A. Sloan, Stanley N. Hatch, Rodey, Dickason, Sloan, Akin & Robb, P.A., Albuquerque, for defendant-appellant.

Susan L. Edwards, Knight & Sullivan, Albuquerque, for plaintiffs-appellees.

OPINION

ANDREWS, Judge.

Tom Darwin was a general partner of both Rancho Village Partners and The Settlement, Ltd., which are New Mexico limited partnerships. He had full authority to manage the funds of both entities with his signature alone.

On May 17, 1977, Darwin made a $300,000 draw against a construction loan made by Albuquerque National Bank (ANB) to Rancho Village Partners. He received the money in the form of a money order payable to "Rancho...

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