Old National Bank v. Exchange National Bank

Citations

• 50 Wash. 418
• 97 P. 462
• 1908 Wash. LEXIS 753

Syllabus

<p>Banks and Banking — Certificate of Deposit — Defenses—Estoppel to Assert. Where a bank, upon inquiry, assures an indorser of a certificate of deposit, issued by the bank to one of its customers, that the same will be paid upon presentation, whereby the indoi’ser and holder were lulled into a feeling of security and prevented from taking steps to protect themselves, the bank is estopped to assert any defense against the holder of the certificate, where it may be reasonably inferred that the occurrence was communicated to the holder and both the holder and indórser were interested therein at the time.</p>