Toole v. Cleveland Trust Co.

Citations

• 33 Ohio C.C. Dec. 486
• 22 Ohio C.C. (n.s.) 112
• 1908 Ohio Misc. LEXIS 388

Syllabus

<p>BANKS AND BANKING — ESTOPPEL—PRINCIPAL AND AGENT</p> <p>1. Dealer with Agent must Act In Good Faith Respecting Restriction on Authority.</p> <p>It is an obvious limitation upon the liability of the principal that he who deals with the agent must act in good faith, respecting every restriction upon the agent’s authority of which he may have notice.</p> <p>2. Bank Estopped to Deny Apparent Authority of Employe Receiving Deposit.</p> <p>When a prospective patron goes to the “New Accounts” window in a bank and asks for a certain employe of the bank with whom she is acquainted, and he is called from the rear portion of the bank to the place at the window and there accepts a deposit and issues to her a pass-book of the bank showing that such a deposit has been made by her, the bank is estopped from denying the receipt of the deposit or the authority of the employe to receive it.</p> <p>3. Bank Employe Showing Withdrawal of Deposit Misappropriated not Defense to Action for Amount by Depositor.</p> <p>The fact that an employe of a bank, who has received from a depositor a sum which he had appropriated to his own use, later makes an entry in the pass-book he had issued the depositor showing the withdrawal of a certain amount which he represents the bank had invested for the depositor, is no defense to the bank in an action by the depositor for the amount of the deposit.</p>