The plaintiff bank brought a motion for summary judgment against the defendants for the recovery of $45,000.
The individual defendant, an officer of a corporate client, withdrew the funds with only one signature, despite knowing the account required two signatures.
The bank mistakenly permitted the withdrawal and subsequently reimbursed the corporate client.
The court found no genuine issue for trial, holding that the individual defendant was not an innocent recipient and was unjustly enriched by the mistake of fact.
Summary judgment was granted for the principal amount plus interest, but the claim for punitive damages was dismissed.