Legal Opinion
American State Bank of Pierre v. Northwest South Dakota Production Credit Ass'n
South Dakota Supreme Court
Decided April 22, 1987No. 15250Published
1Opinion of the Court
KONENKAMP, Circuit Judge.
This is an appeal from a judgment declaring Northwest South Dakota Production Credit Association (PCA) a holder in due course of a check issued by Fort Pierre Livestock Auction, Inc. (Fort Pierre). We reverse.
On October 25, 1983, in payment for cattle sold at auction, Fort Pierre issued check number 19074 for $31,730.23 to its customer, Gene Hunt, naming as additional payees Cheyenne River Sioux Tribe Superior Court and PCA. Later Fort Pierre discovered it had miscounted the cattle and so it issued check 19331 dated October 31, 1983, for $36,343.95 to Hunt and the…
2Cases cited5 opinions
- Graham v. White-Phillips Co.Supreme Court of the United States · 1935
- Farmers Elevator Co. of Elk Point v. LyleSouth Dakota Supreme Court · 1976
- First National Bank v. FazzariNew York Court of Appeals · 1961
- McCook County National Bank, a Corporation v. Bruce Compton and D. W. GodfreyCourt of Appeals for the Eighth Circuit · 1977
- Western Bank v. RaDec Const. Co., Inc.South Dakota Supreme Court · 1986