Baybank Harvard Trust Co. v. Costello

This is an action in contract in which BayBank Harvard Trust Company (Baybank) seeks damages against Thomas F. Costello (Costello) for his breach of warranty as the indorser of a note, for checking account overdrafts and for money had and received.

The defenses relied upon by Costello are that BayBank or its agent failed to protest upon the dishonor of the check which forms the basis of this controversy; *179failed to comply with the “Midnight Deadline Rule;” and converted the check in question by refusing either to return the check or to pay it to Costello.

The defendant filed a counterclaim which…