V of I Productions, Inc. v. California Bank

This is an action to recover $35,100 from defendant bank upon the alleged basis that the bank, without authority, paid three cheeks, aggregating said amount, from plaintiff’s account. In a nonjury trial judgment was for the defendant. Plaintiff appeals from the judgment.

Plaintiff was in the business of selling airplane transportation for tours to Honolulu. Harold N. Ravitch was president, and Herman P. DuBoff was assistant treasurer, of the plaintiff corporation. On December 16, 1958, plaintiff entered into a charter agreement with Overseas National Airways whereby Overseas would make six round-trip flights from Los Angeles to Honolulu, at the rate of $11,700 for each flight, and whereby the flights would be made between the dates of December 19 and December 31. Three of the flights were scheduled to be made on December 25.

On December 8 the plaintiff had opened an account at the defendant bank, Highland and Santa Monica Office. The signature card with reference to the account provided that two signatures were required in order to withdraw money, namely, the signatures of Harold N. Ravitch and Herman P. DuBoff. The money in the account on December 24, approximately $38,000,…