Midamerica Bank, FSB v. Charter One Bank, FSB

Chief Justice Fitzgerald and Justices Freeman, Thomas, Garman, Karmeier, and Burke concurred in the judgment and opinion.

OPINION

In this appeal, we consider: (1) whether a bank may-issue a stop-payment order on a cashier’s check under the Illinois Uniform Commercial Code (810 ILCS 5/1— 101 et seq. (West 2002)); and (2) whether the circuit court of Du Page County erred in denying MidAmerica loss of interest and attorney fee expenses under the UCC. The circuit court held that a cashier’s check is the equivalent of currency and that Charter One must, therefore, honor its cashier’s check but…