National Currency Exchange, Inc. v. Perkins

This is an action on a check drawn May 14, 1960 and dated May 16, 1960. Prior to the dne date of the check, on May 14, the payee, John Stauropoulos, endorsed and cashed the check at plaintiff’s currency exchange. The drawer, defendant Perkins, instructed drawee bank, Commercial National Bank of Chicago, to stop payment on the check on May 16. The plaintiff presented the check to the drawee bank for payment but it was dishonored. Plaintiff secured a default judgment against Stauropoulos, the payee therein, which judgment remains unsatisfied. Consequently, plaintiff brought the instant action…