Legal Opinion
Mouradian v. Astoria Federal Savings & Loan
New York Court of Appeals
Decided December 17, 1997PublishedCited by 18 opinions
1Opinion of the Court
OPINION OF THE COURT
Ciparick, J.
We are asked on this appeal to decide whether a drawee bank, sued for conversion under UCC 3-419, is entitled to show that the payee received a benefit from the converted checks and therefore should recover less than their face value. We conclude that while a drawee may claim a setoff for funds actually received by the payee, the rule of absolute liability stated in UCC 3-419 (2) precludes further inquiry into whether the payee, who has not recovered the funds, in fact benefitted from the proceeds of the checks.
Plaintiff Pauline Mouradian’s estranged husband,…
2Cases cited12 opinions
- Maynard Inv. Co., Inc. v. McCannWashington Supreme Court · 1970
- Twellman v. Lindell Trust Co.Missouri Court of Appeals · 1976
- Hillsley v. State Bank of AlbanyAppellate Division of the Supreme Court of the State of New York · 1965
- Starkey Construction, Inc. v. Elcon, Inc.Supreme Court of Arkansas · 1970
- Getty Petroleum Corp. v. American Express Travel Related Services Co.New York Court of Appeals · 1997
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3Cited by18 opinions
- Lawyers' Fund for Client Protection v. Bank Leumi Trust Co.New York Court of Appeals · 2000
- County Concrete Corp. v. SmithNew Jersey Superior Court Appellate Division · 1998
- Kersner v. First Federal Savings & Loan Ass'nAppellate Division of the Supreme Court of the State of New York · 1999
- Arnold v. First Citizens National BankDistrict Court, W.D. New York · 2016
- Lawyers' Fund for Client Protection v. Bank Leumi Trust Co.Appellate Division of the Supreme Court of the State of New York · 1998
13 more not listed; retrieve them via the Exa API.