Legal Opinion
Underpinning & Foundation Constructors, Inc. v. Chase Manhattan Bank, N.A.
New York Court of Appeals
Decided February 8, 1979PublishedCited by 112 opinions
1Opinion of the Court
OPINION OF THE COURT
Gabrielli, J.
We are called upon to determine when, if ever, the *462drawer of a check may sue a depositary bank which accepts the check and pays out the proceeds in violation of a forged restrictive indorsement. We conclude that in such a circumstance the drawer may have a cause of action against the depositary bank, based on either money had and received or conversion, at least in those cases in which the indorsement, albeit forged, is nonetheless "effective”.
Defendant Bank of New York appeals from a nonfinal order of the Appellate Division pursuant to leave granted by that…
2Cases cited5 opinions
- Diemer v. DiemerNew York Court of Appeals · 1960
- Federal Insurance v. Groveland State BankNew York Court of Appeals · 1975
- Soma v. HandrulisNew York Court of Appeals · 1938
- Westhill Exports, Ltd. v. PopeNew York Court of Appeals · 1963
- Trojan Publishing Corp. v. Manufacturers Trust Co.New York Court of Appeals · 1948
3Cited by112 opinions
- Campaign for Fiscal Equity, Inc. v. StateNew York Court of Appeals · 1995
- McAdam v. Dean Witter Reynolds, Inc.Court of Appeals for the Third Circuit · 1990
- Prudential-Bache Securities, Inc. v. Citibank, N. A.New York Court of Appeals · 1989
- Gerard C. Menichini, T/a Best Legal Services v. Lissa L. Grant Mellon Bank (East), Mellon Bank (East) National AssociationCourt of Appeals for the Third Circuit · 1993
- Hartford Accident & Indemnity Co. v. American Express Co.New York Court of Appeals · 1989
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