Marine Midland Bank, N.A. v. Price, Miller, Evans & Flowers

OPINION OF THE COURT

Wachtler, J.

The question on this appeal is whether the plaintiff, Marine Midland Bank can claim the status of a holder in due course of a check which it cashed without indorsement and stamped “credited to the áccount of the payee herein named”, although the payee, who had presented the check, had no account at the bank. By a divided court the Appellate Division held that the bank had properly supplied the missing indorsement pursuant to subdivision (1) of section 4-205 of the Uniform Commercial Code and was otherwise a holder in due course. The defendant appeals on the…