Court Opinion

ID: 9776912
Source: CourtListenerOpinion
Date Created: 2023-08-29 19:48:23.585447+00
Date Added: 2024-06-11T07:32:44.884179
License: Public Domain

Concurring Opinion
CARNEY, J.
I concur in tbat portion of tbe majority opinion which bolds tbe Bank guilty of negligence in failing to make inquiry as to tbe legality of tbe withdrawals since tbe checks were made payable to Cleve Jordan personally and were being withdrawn from a trust account. These withdrawals became doubly suspicious when some of the checks bore endorsements of the Southland Racing Company, a corporation which operates a racing track in West Memphis, Arkansas. I concur in the result reached by the majority opinion affirming the judgment of the court below.
If the illegal checks had not been payable to the trustee personally so as to put the Bank on notice of their probable illegality then I think the Bank’s liability would have been limited to the total of those checks bearing forged signatures which were included in the first group of canceled checks returned by the Bank to Cleve Jordan, Financial Secretary. The subsequent acts of Cleve Jordan in withholding these canceled checks from the other church officials should not be imputable to the Bank because the church failed to demand examination and inspection of the returned canceled checks and bank statement.