Banco de Concepcion v. Manfra, Tordella & Brooke, Inc.

Kupferman, J. P., and Lupiano, J.,

dissent in a memorandum by Lupiano, J., as follows: Petitioner, a bank located in Chile, delivered to one Ferdinand Zamora approximately 10 of its own cashier checks in exchange for the latter’s personal check in the same amount. Zamora’s check "bounced.” Meanwhile, Zamora apparently sold the petitioner’s checks to third parties, which checks were deposited in certain numbered accounts maintained by customers at respondent banks. Zamora, now in prison, having confessed, has implicated no other individual in his scheme. The checks themselves appear regular on…