Western Surety Co. v. Farmers & Merchants State Bank

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• depositor presumably acts honestly; bank not liable because it had no knowledge that depositor was committing a breach of his obligations or was about to embezzle funds
• where fiduciary had authority to endorse, in absence of knowledge on part of bank fiduciary wrongfully intended to divert to his own use money belonging to principal, or of other facts establishing bad faith, no liability attached pursuant to Minn.Stat. § 520.09 (UFA § 9)
• where fiduciary had authority to endorse, in absence of knowledge on part of bank fiduciary wrongfully intended to divert to his own use money belonging to principal, or of other facts establishing bad faith, no liability attached pursuant to Minn.Stat. § 520.09 (UFA § 9)

Source: CourtListener parenthetical corpus (CC0).