Schmitt v. Mellon National Bank

Citations

• 67 Pa. Super. 453
• 1917 Pa. Super. LEXIS 429

Syllabus

<p>Banks and banking — Certification of check — Certification equal to -acceptance — Act of May 16, 1901, P. L. 19k — Corporations— Treasurer — Check.</p> <p>Where the treasurer of a corporation draws a cheek on his company’s account in a trust company and signs the check with the name of his company and his own name as treasurer, and the check shows on its face that it is to pay the treasurer’s personal indebtedness, and the trust company certifies the check, a bank which subsequently pays the cheek in the course of business is not bound to inquire as to the authority of the treasurer to use his company’s funds. Under the Act of May 16, 1901, See. 187, P. L. 194, the certification of the check was equivalent to an acceptance, and the trust company became responsible for its payment.</p>