Legal Opinion
Lowe's of Sanford, Inc. v. Mid-South Bank & Trust Co.
Court of Appeals of North Carolina
Decided December 18, 1979No. 7911SC282PublishedCited by 4 opinions
1Opinion of the Court
HILL, Judge.
A cashier’s check is a bill of exchange drawn by a bank upon itself and accepted in advance by the act of its issuance and not subject to countermand either by its purchaser or by the issuing bank. The bank’s issuance of the cashier’s check, which by definition is also an acceptance, constitutes an engagement by the bank to honor the check as presented extinguishing the right of the bank or anyone else to countermand the check. State of Pa. v. Curtiss Nat. Bank of Miami Springs, Fla., 427 F. 2d 395 (5th Cir. 1970). Acceptance of any instrument is final in favor of a holder in due…
2Cases cited3 opinions
- Pennsylvania v. Curtiss National Bank of Miami SpringsCourt of Appeals for the Fifth Circuit · 1970
- Citizens & Southern National Bank v. YoungbloodCourt of Appeals of Georgia · 1975
- Rosenbaum v. First National City BankNew York Court of Appeals · 1962
3Cited by4 opinions
- Morgan Guaranty Trust Company Of New York v. American Savings And Loan AssociationCourt of Appeals for the Third Circuit · 1986
- Morgan Guaranty Trust Co. v. American Savings & Loan Ass'nCourt of Appeals for the Ninth Circuit · 1986
- Stringfellow v. First American National BankTennessee Supreme Court · 1994
- Ellis v. State Bank of Towner (In Re Archie Campbell, Inc.)United States Bankruptcy Court, D. North Dakota · 1984