Legal Opinion
SOS Oil Corp. v. Norstar Bank of Long Island
New York Court of Appeals
Decided October 18, 1990PublishedCited by 20 opinions
1Opinion of the Court
OPINION OF THE COURT
Kaye, J.
Defendant, Norstar Bank of Long Island, in paying a $255,000 check, erroneously debited the drawer and credited the payee (plaintiff, SOS Oil Corporation) with $25,000 instead of the face amount of the check. The bank’s error went unde*565tected for more than a year, during which time the drawer closed its account with Norstar and ceased doing business. The issue before us is whether SOS was correctly awarded summary judgment, under UCC 4-302, for the $230,000 discrepancy, or whether the bank’s defenses gave rise to a triable issue of fact.
The following facts are…
2Cases cited10 opinions
- Putnam Rolling Ladder Co. v. Manufacturers Hanover Trust Co.New York Court of Appeals · 1989
- Frederic A. Potts & Co. v. Lafayette National BankNew York Court of Appeals · 1935
- David Graubart, Inc. v. Bank Leumi Trust Co.New York Court of Appeals · 1979
- Bank Leumi Trust Co. v. Bank of Mid-JerseyDistrict Court, D. New Jersey · 1980
- Sunshine v. Bankers Trust Co.New York Court of Appeals · 1974
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3Cited by20 opinions
- State v. Barclays Bank of New York, N. A.New York Court of Appeals · 1990
- Torres v. WalkerCourt of Appeals for the Second Circuit · 2004
- Memnon v. CLIFFORD CHANCE US, LLPDistrict Court, S.D. New York · 2009
- Torres v. WalkerCourt of Appeals for the Second Circuit · 2004
- Chicago Title Insurance v. California Canadian BankCalifornia Court of Appeal · 1991
15 more not listed; retrieve them via the Exa API.