Fulton National Bank v. Delco Corp.

Deen, Judge.

The instrument in question is a bank draft and does not operate as an assignment of funds, as does a certified check (Code Ann. §§ 109A-4 — 303 (1) (a) and 109A-3 — 411 (1)), certification constituting a legal acceptance or a cashier’s check or bank money order, which are considered to be notes carrying unconditional promises to pay. 67 Columbia Law Review, Money Orders & Teller’s Checks, pp. 524, 527. The plaintiff, being the named payee, is not a holder in due course. Under Code Ann.§109A-4-403 any customer may by order to his bank stop payment on his check prior to action by…