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Paul Porvaznik – Business Litigator

Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)

Tag Archives: collecting bank

Law Firm’s Negligence Suit Against Bank Defeated By Account Agreement and UCC Article 4 (IL Law))

  In July 2013, the Third District appeals court affirmed dismissal of a law firm’s (Firm) negligence suit against a bank that charged back the firm’s account after a $350,000 check deposited by the Firm turned out to be counterfeit.  Rejecting the Firm’s negligence claim, the Court found that the terms of the parties’ account agreement and the specific …

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Posted byPaulPOctober 30, 2013December 18, 2014Posted inBusiness Torts, Contract Law, Creditor's RightsTags: busey bank, collecting bank, counterfeit check, depository bank, dixon, economic loss rule, Moorman, UCC Article 4
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