Hydrocarbon Processing Corp. v. Chemical Bank New York Trust Co.

In this controversy submitted under rule 3222 of the Civil Practice Law and Rules (see Civ. Prac. Act, *345§§ 546-547) plaintiff seeks to recover $2,467.63, the amount of a draft payable to it drawn on Industrial Commercial Premier, S. A. of Amagura 103, Havana, Cuba, hereinafter referred to as Premier, in payment for merchandise sold and shipped by plaintiff to Premier in 1959. At that time plaintiff deposited the draft with defendant for collection. Defendant, in the usual course of banking business forwarded the draft for collection to Banco Continental Cubano, hereinafter referred to as…