Legal Opinion
Knesz v. Central Jersey Bank & Trust Co.
New Jersey Superior Court Appellate Division
Decided November 24, 1982PublishedCited by 2 opinions
1Opinion of the Court
The opinion of the court was delivered by
PRESSLER, J.A.D.
The issue raised by this appeal, unaddressed in this State since its adoption of the Uniform Commercial Code, N.J.S.A. 12A:1-101 et seq., is whether the payee of a check whose indorsement has been forged has a cause of action in conversion against the depositary-collecting bank which has paid on the forged indorsement. We hold that N.J.S.A. 12A:3-419(3), relied on by defendant bank, does not immunize it from a conversion action by the payee and hence that the Code does not deprive the payee of the common-law conversion action…
2Cases cited27 opinions
- Salsman v. National Community Bank of RutherfordNew Jersey Superior Court Appellate Division · 1968
- Cooper v. Union BankCalifornia Supreme Court · 1973
- Aetna Casualty and Surety Co. v. Hepler State BankCourt of Appeals of Kansas · 1981
- Thermo Contracting Corp. v. Bank of New JerseySupreme Court of New Jersey · 1976
- Thornton & Company, Inc. v. Gwinnett Bank & Trust Co.Court of Appeals of Georgia · 1979
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3Cited by2 opinions
- Knesz v. Central Jersey Bank and Trust Co. of FreeholdSupreme Court of New Jersey · 1984
- Hydroflo Corp. v. First Nat. Bank of OmahaNebraska Supreme Court · 1984