Valley National Bank v. P.A.Y. Check Cashing D/B/A United Check Cashing

Defendant, P.A.Y. Check Cashing, appeals the final judgment granted in favor of plaintiff, Valley National Bank, for the face amount of a check issued by plaintiff, together with interest and costs. One of the payees was a fictitious corporate party. Defendant cashed the check, which bore a forged stamped endorsement of the fictitious party, and delivered the proceeds to the co-payee, a natural person, who has since absconded. The check was, ultimately paid and charged to plaintiffs account.

The trial judge determined that defendant breached its presentment warranties to plaintiff under the…