(DOWNLOAD) "Waltham Citizens National Bank v. James W." by Supreme Judicial Court of Massachusetts # eBook PDF Kindle ePub Free
eBook details
- Title: Waltham Citizens National Bank v. James W.
- Author : Supreme Judicial Court of Massachusetts
- Release Date : January 29, 1968
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 72 KB
Description
Where it appeared in an action that a check, drawn by the defendant payable to a corporation and indorsed by it, was deposited
in its overdrawn checking account in a bank, that the bank permitted the corporation to draw against the check to its full
amount immediately to liquidate a note to the bank, and that the bank took the check in good faith and without knowing of
insolvency of the corporation or any defence against the check and the next day started the collection process on the check,
it was held that the bank acquired "a security interest" in the check within G. L. c. 106, § 4-208 (1), gave value
therefor within § 4-209, and became a holder in due course within § 3-302, and that printed terms on the
deposit slip accompanying the check were of no benefit to the defendant and he was liable to the bank for the amount of the
check upon stopping payment thereof. This action of contract is on a check for $9,000, dated March 26, 1964, drawn by the defendant on the Harvard Trust Company,
payable to J. J. Ryan Construction Co., Inc. (Ryan), and indorsed and deposited by Ryan in its checking account with the plaintiff.
A Judge of the Superior Court found for the plaintiff. The defendant's exceptions are to rulings and to the denial of his
requests for rulings.
 "Waltham Citizens National Bank v. James W." by Supreme Judicial Court of Massachusetts # eBook PDF Kindle ePub Free){kind=link}