Legal Opinion
LeBovici v. Jamaica Savings Bank
Appellate Division of the Supreme Court of the State of New York
Decided June 15, 1981PublishedCited by 10 opinions
1Opinion of the Court
OPINION OF THE COURT
Thompson, J.
This case raises a question of major interest to the thrift institutions in this State: whether a savings bank may refuse permission to a depositor to make a premature withdrawal of a time deposit when the account application forbids such withdrawals without the bank’s permission *151but when the bank’s policy at the time the deposit was made had been to permit such withdrawals.
In July, 1977 petitioners opened a time savings account with the bank, depositing $6,000 for a period of six years with interest at 7%% per annum (compounded daily), payable at maturity. The…
2Cases cited5 opinions
- Metropolitan Life Ins. Co. v. . Childs Co.New York Court of Appeals · 1921
- Leumi Financial Corp. v. RichterNew York Court of Appeals · 1966
- Chiapparelli v. Baker, Kellogg & Co.New York Court of Appeals · 1929
- Continental Bank & Trust Co. v. W. A. R. Realty Corp.Appellate Division of the Supreme Court of the State of New York · 1943
- Metropolitan Life Insurance Company v. . Childs CompanyNew York Court of Appeals · 1921
3Cited by10 opinions
- Megaris Furs, Inc. v. Gimbel Brothers, Inc.Appellate Division of the Supreme Court of the State of New York · 1991
- Murphy v. GutfreundDistrict Court, S.D. New York · 1984
- Citibank, N.A. v. Morgan Stanley & Co. InternationalDistrict Court, S.D. New York · 2010
- Royal Mortgage Corp. v. Federal Deposit InsuranceDistrict Court, S.D. New York · 1998
- Ayala v. Jamaica Savings BankNew York Supreme Court · 1983
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