Bank Leumi Trust Co. v. Bank of Mid-Jersey

OPINION

HAROLD A. ACKERMAN, District Judge.

This is a case arising under Articles 3 & 4 of the Uniform Commercial Code, N.J.S.A. 12A:3-101 et seq. and 12A:4-101 et seq., and, more particularly, Article 4’s “midnight deadline” for the processing of checks. N.J.S.A. 12A:4-302. The focus of the case is the adventures of a certain cheek, number 1028, drawn on the account of Century Buick, Inc. at the defendant Bank of Mid-Jersey for the amount of $48,-470.00, and made payable to Grand Prix, a customer of the plaintiff Bank Leumi Trust Company of New York, Inc. This check was held by Mid-Jersey…