18-3. Wire Transfers. Dr. Asad M. Masri and his wife borrowed $150,000 from First Virginia BankColonial (FVBC). Masri then signed a wire transfer request directing FVBC to transfer the funds to the Amro Bank in Amsterdam. The request also stated that the funds were to be deposited to the Lenex Corp.s account in that bank. FVBC transferred the funds to the Bank of Nova Scotia, an intermediary bank, and sent disbursal instructions directly to Amro. The following day, the funds were credited to the Lenex account at the Amro Bank. They were withdrawn, however, by someone other than the person intended by Masri to withdraw them. When the Masris later defaulted on the loan, FVBC sought full repayment. The Masris claimed that FVBC had breached the wire transfer agreement. Did FVBC breach the transfer agreement? Where did FVBCs responsibility end? Discuss fully. [First Virginia BankColonial v. Masri, M.D., 245 Va. 461, 428 S.E.2d 903 (1993)]

18-4. Stale Checks. On July 15, 1986, IBP, Inc., issued to Meyer Land & Cattle Co. a check for $135,234.18 payable to both Meyer and Sylvan State Bank for the purchase of cattle. IBP wrote the check on its account at Mercantile Bank of Topeka. Someone at the Meyer firm misplaced the check. In the fall of 1995, Meyers president Tim Meyer found the check behind a desk drawer. Jana Huse, Meyers office manager, presented the check for deposit at Sylvan, which accepted it. After Mercantile received the instrument and its computers noted the absence of any stoppayment order, it paid the check with funds from IBP's checking account. IBP insisted that Mercantile credit IBP's account. Mercantile refused. IBP filed a suit in a federal district court against Mercantile and others, claiming, among other things, that Mercantile had not acted in good faith because it had processed the check by automated means, without examining it manually. Mercantile responded that its check-processing procedures adhered to its own policies, as well as to reasonable commercial standards of fair dealing in the banking industry. Mercantile filed a motion for summary judgment. Should the court grant the motion? Why or why not? [IBP, Inc. v. Mercantile Bank of Topeka, 6 F.Supp.2d 1258 (D.Kan. 1999)]