Legal Opinion
Isler v. National Park Bank
New York Court of Appeals
Decided February 25, 1925PublishedCited by 3 opinions
1Opinion of the CourtCrane, J.
This appeal brings up a question of the bank’s liability for the negligence of its agent, Banco Nacional de Bolivia, causing the plaintiffs’ loss. The law of this State ever since Allen v. Merchant’s Bank of the City of N. Y. (22 Wend. 215) has been that a bank receiving commercial paper for collection is, in the absence of some special agreement, liable for a loss occasioned by default of its correspondents or other agents selected by it to make the collection. (Nat. Revere Bank of Boston v. Nat. Bank of Republic of New York, 172 N. Y. 102, 107; Gilpin v. Columbia National Bank, 220 N. Y.…
2Cases cited4 opinions
- Allen v. Merchant's BankCourt for the Trial of Impeachments and Correction of Errors · 1839
- National Revere Bank v. National Bank of Republic of New YorkNew York Court of Appeals · 1902
- McBride v. Illinois National BankAppellate Division of the Supreme Court of the State of New York · 1914
- Gilpin v. Columbia National BankNew York Court of Appeals · 1917
3Cited by3 opinions
- Gaita v. Windsor BankNew York Court of Appeals · 1929
- Hodnick v. Fidelity Trust Co.Indiana Court of Appeals · 1932
- David v. Manufacturers Hanover Trust Co.Appellate Terms of the Supreme Court of New York · 1969