Silk v. Merrill Lynch, Pierce, Fenner & Smith, Inc.

The dispositive issue raised on appeal is whether the trial court properly granted defendants' motion for summary judgment. We conclude the trial court's judgment was proper.

The operative facts of this case are undisputed. On November 26, 1981, Ralph E. Silk, plaintiff/appellant, accepted four checks from Warrior Energy Corporation ("Warrior"). The four checks, which totaled $37,500, were all drawn on the Central Bank of Alabama, N.A., Haleyville, Alabama ("Central Bank") in payment of a debt. At the insistence of Warrior, Silk agreed not to deposit the checks until Warrior had sufficient…