Adam International Trading Ltd. v. Manufacturers Hanover Trust Co.

Judgment of the Supreme Court, New York County (Burton Sherman, J.), entered March 17, 1988, which awarded damages in favor of plaintiffs and against defendant, is unanimously reversed, on the law, and the action dismissed, without costs.

The action was brought by two merchants who, in separate transactions, accepted personal money orders (PMOs) as payment for merchandise sold to customers. The PMOs were deposited by plaintiffs and presented to defendant bank for payment, but defendant refused to pay on the ground that it did not issue the PMOs. At trial, defendant explained that the…