Wen Kroy Realty Co., Inc., Respondent v. the Public National Bank and Trust Company of New York, Appellant

Summary

The Court affirmed the Appellate Division, holding that the corporation's president lacked authority to endorse the check without a proper corporate officer's signature, so the bank acquired no title and must restore the funds to the plaintiff. Justice Kellogg dissented, arguing that the president's implied authority to endorse corporate checks transferred title to the bank.