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H&B's pegboard ledger also bears a notation for each of
these checks stating "car payment". These checks also
represent monthly payments on the loan used to finance
the purchase of the Lincoln Mark VII.
On January 17, 1989, petitioner signed check No. 1570
in the amount of $716.14 that was drawn on H&B's First
Interstate account and made payable to Alexander & Strunk.
This check bears the notation "Insurance - Co. cars". This
check was used to purchase insurance for petitioner's
Lincoln Mark VII.
Sometime in March 1989, petitioner signed check No.
1759 in the amount of $850 that was drawn on H&B's First
Interstate account and made payable to First Interstate.
A notation on the front of the check states "Tires/Repairs
Company Vehicle". This check was also used to pay expenses
relating to the Lincoln Mark VII.
Sometime after May 1, 1989, petitioner endorsed the
check issued by the U.S. Government to H&B in the amount of
$19,694.92 for the work done by H&B under its contract to
transport fuel for the Department of Defense. Petitioner
deposited the check into H&B's checking account at
Community Bank. Petitioner then used the proceeds of the
check to pay the outstanding balance of the loan used to
purchase the Lincoln Mark VII. Petitioner had no authority
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Last modified: May 25, 2011