SOS Oil Corp. v. Norstar Bank
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
2Per curiam
The issue in this case involves the liability of a bank for erroneously encoding a check deposited by a customer, and is one of first impression in the State.
Described as the most widespread technological advance in bank collections since the UCC was drafted (see, Clark, Bank Deposits, Collections and Credit Cards ¶ 10.5, at 10-8 [rev ed]), the encoding of checks with magnetic ink has become an integral part of the automation of modern banking. In this process, a bank, using magnetic ink,-will encode the amount of the check on the deposited check itself. When that is done,…
3Cases cited10 opinions
- Hearst Corp. v. ClyneNew York Court of Appeals · 1980
- Hechter v. New York Life InsuranceNew York Court of Appeals · 1978
- Bank Leumi Trust Co. v. Bank of Mid-JerseyDistrict Court, D. New Jersey · 1980
- Met Frozen Food Corp. v. National Bank of North AmericaNew York Supreme Court · 1977
- Lighting Horizons, Inc. v. E. A. Kahn & Co.Appellate Division of the Supreme Court of the State of New York · 1986
5 more not listed; retrieve them via the Exa API.
4Cited by6 opinions
- SOS Oil Corp. v. Norstar Bank of Long IslandNew York Court of Appeals · 1990
- Kalish v. LindsayAppellate Division of the Supreme Court of the State of New York · 2008
- A.I. Trade Finance, Inc. v. Centro Internationale Handelsbank AGDistrict Court, S.D. New York · 1996
- Klam v. KlamAppellate Division of the Supreme Court of the State of New York · 1997
- Deutsche Bank Natl. Trust Co. v. 9th St, LLCAppellate Division of the Supreme Court of the State of New York · 2021
1 more not listed; retrieve them via the Exa API.