Officeplus contractually agreed to purchase office furniture from Centrac in exchange for a price of $48 000. That sales contract required payment to be made by way of a certified cheque. Officeplus had a bank account at the Canadian Imperial Bank of Commerce (CIBC). Immediately before the following events occurred, its account balance stood at $173. Officeplus received a cheque for $76 000 from Finlayson Inc that was drawn on Finlayson’s account at TD Canada Trust (TD). Officeplus deposited that cheque into its account at CIBC. Although it had not yet actually received payment from TD, CIBC credited Officeplus’s account with $76 000. Later the same day, Officeplus drew a cheque upon its own account for $48 000 and asked CIBC to certify it. CIBC, overlooking the fact that it had not yet received payment on the TD cheque, believed that Officeplus had sufficient funds in its account. CIBC therefore certified the cheque and purportedly transferred $48 000 from Officeplus’s account into a “suspense account.” Officeplus delivered the certified cheque to Centrac. TD then contacted CIBC and explained that the earlier cheque for $76 000 would not be paid because Finlayson did not have sufficient funds in its account. CIBC immediately contacted Centrac and insisted that the certified cheque was invalid because Officeplus did not really hold sufficient funds. Centrac, in contrast, demands that CIBC make payment on the certified cheque. Is CIBC liable to Centrac? If so, is Officeplus or Finlayson or TD liable to CIBC? Explain your answers.