United American Bank of Memphis v. First Citizens National Bank of Dyersburg

OPINION

FRANKS, Judge.

This action was precipitated when the First Citizens National Bank of Dyersburg, Tennessee refused to honor1 a cashier’s check, which it had issued and subsequently was cashed and presented for payment by United American Bank of Memphis.

The cashier’s check in the amount of $50,000.00 was made payable to the order of “Investment Ventures and Joseph Hart.” Joseph Hart, who was authorized to sign and endorse all checks on the behalf of Investment Ventures, Incorporated, which had an account with plaintiff, personally appeared at one of plaintiff's branches and presented the…