Olsen v. Valley National Bank of Aurora

The plaintiffs, Roger and Sandra Olsen, brought an action to recover damages, actual and punitive, against the defendant, Valley National Bank of Aurora, for refusing to honor for payment certain checks drawn by the plaintiffs upon their account in defendant’s bank. The checks were marked by the defendant with the legend “Not Sufficient Funds.” The defendant, prior to the presentation of the checks drawn by the plaintiffs, debited the plaintiffs’ account pursuant to an indebtedness due the defendant by the plaintiffs based upon an installment sales contract. A complaint was filed in three…