Legal Opinion
L. B. Smith, Inc. v. Bankers Trust Co.
Appellate Division of the Supreme Court of the State of New York
Decided May 27, 1981PublishedCited by 14 opinions
1Opinion of the Court
OPINION OF THE COURT
Hancock, Jr., J.
Under the Uniform Commercial Code, a check payable to “A or B” may be negotiated upon the proper indorsement of either payee. A check payable to “A and B” requires the indorsement of both (Uniform Commercial Code, § 3-1161; see Pierce, Practice Commentary, McKinney’s Cons Laws of NY, Book 62%, Uniform Commercial Code, § 3-116, p 77).
*497The narrow question we face (not heretofore decided by an appellate court in New York) is whether a check to the order of two payees whose names are separated by the symbol (/), a slash or diagonal line, known as a virgule,2 is…
2Cases cited4 opinions
- DYNALECTRON CORPORATION v. Union First National BankDistrict Court, District of Columbia · 1980
- Brown Strober Building Supply Corp. v. Living House, Inc.Suffolk County District Court · 1980
- Miron Rapid Mix Concrete Corp. v. Bank Hapoalim, B. M.New York Supreme Court · 1980
- Lessen v. LindseyAppellate Division of the Supreme Court of the State of New York · 1933
3Cited by14 opinions
- Dynalectron Corp. v. Equitable Trust Co.Court of Appeals for the Fourth Circuit · 1983
- Lighton Indus., Inc. v. Allied World Nat'l Assurance Co.District Court, E.D. New York · 2018
- Danco, Inc. v. Commerce Bank/ShoreNew Jersey Superior Court Appellate Division · 1996
- Coregis Insurance v. Fleet National BankConnecticut Appellate Court · 2002
- J.R. Simplot, Inc. v. KnightWashington Supreme Court · 1999
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