Tradesmen's National Bank v. Third National Bank

Citations

• 66 Pa. 435
• 1871 Pa. LEXIS 55

Syllabus

<p>1. A draft on a bank to the order of the drawers passed into the hands of</p> <p>another bank, and was paid through the clearing-house, two days afterwards the signatures were found to be forged and repayment was demanded and refused. Held, that the first bank could recover from the second, under the Act of April 5th 1849, § 10. '</p> <p>2. A rule of the clearing-house was, “Errors in exchanges shall be adjusted by the banks concerned, and cheeks not'good shall be returned to the bank depositing them before one o’clock p. m.” This rule applied only to ascertaining that the account was not overdrawn.</p>