Jaysee Holding Corp. v. Block

Ordinarily, where a check is delivered a,t the same place where the bank is located it must, in the absence of special circumstances, be presented during the business hours of the next' regular business day after it is received, and if the holder thereof fails to present it within that time and the drawee becomes insolvent so that the drawer loses the entire amount which he had on deposit to meet the check, the latter will be discharged. (Murphy v. Levy, 23 Misc. 147.) It has been held that deposit by the payee in his own bank for collection on the day following the receipt of the instrument…