Rensselaer Valve Co. v. Union National Bank

Citations

• 122 Wash. 494
• 210 P. 947
• 1922 Wash. LEXIS 1185

Syllabus

<p>Pbincipai, and Agent (35-1, 62)&emdash;Authokity of Agent&emdash;Evidence &emdash;Sufficiency&emdash;Estoppel. The authority of an agent handling fire hydrants on a commission basis and acting as manager of the local office for a foreign company, to cash or deposit checks payable to the principal, and estoppel to question the same, is not sustained, where the agent was also doing business on his own account, his authority as an agent was very limited, and the principal notified the bank that the principal’s checks could be deposited in the agent’s personal account only where they were in partial payment for goods in which the principal had no financial interest, but had been included inadvertently with payments for the principal’s goods.</p> <p>Banks and Banking (29)&emdash;Deposits by Agent&emdash;Limitations on Authokity&emdash;Liability. Where a bank permitted an agent to deposit checks payable to his principal in the agent’s, personal account, with knowledge of his want of authority so to do, it is liable to the principal for the loss of the money.</p>