A depositor drew a check and delivered it to the payee. Fourteen months later, the check was
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A depositor drew a check and delivered it to the payee. Fourteen months later, the check was presented to the drawee bank for payment. The bank had no knowledge that anything was wrong and paid the check. The depositor then sued the person receiving the money and the bank. The depositor claimed that the bank could not pay a stale check without asking the depositor whether payment should be made. Was the depositor correct? [Advanced Alloys, Inc. v Sergeant Steel Corp., 340 NYS2d 266 (Queens Co Civ Ct)]
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Anderson's Business Law And The Legal Environment
ISBN: 9780324638189
20th Edition
Authors: David P Twomey, Marianne M Jennings, Ivan Fox
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