Deppoliti's Northeast Auction Center Inc. v. Binghamton Savings Bank

OPINION OF THE COURT

Casey, J.

A customer of defendant purchased a piece of machinery at an auction conducted by plaintiff and issued a check payable to plaintiff in the amount of the purchase price, drawn on defendant. Plaintiff allegedly agreed not to cash the check until the machinery was delivered to defendant’s customer and determined to be in good working order. When plaintiff presented the check to defendant several days later, the customer ordered defendant to stop payment on the check. Instead, defendant returned the check to plaintiff marked "Insufficient Funds”.

Shortly thereafter,…