The National Park Bank of New York v. the German-American Mutual Warehousing and Security Company, Impleaded

Summary

The New York Court of Appeals held that the German-American Mutual Warehousing and Security Company was not liable on promissory note endorsements made by its president for the accommodation of the makers in exchange for consideration, because such authority was not conferred by the board. The Court reversed the lower court's judgment and ordered a new trial.