Chrysler Credit Corp. v. First National Bank & Trust Co.

OPINION OF THE COURT

As stated by the district court, this ease brought in diversity under Pennsylvania law presents the question whether presentment of a check at the data processing center of a payor bank requires the bank either to give notice of dishonor or to return the check prior to midnight of the next banking day. The district court conceded that the issue was one of first impression under Pennsylvania law and that the decisions from other jurisdictions are sparse. The district court concluded that the Supreme Court of Pennsylvania, if confronted with the question, would hold that…