VII. Commercial Paper and Electronic Funds Transfers
March 24, 2014
- F.D.I.C. v. Cashion, 720 F.3d 169 (4th Cir. 2013) -- A receiver for a bank sought to enforce a promissory note that a borrower had made payable to the bank. As evidence, the receiver submitted a copy of the promissory note. The borrower requested production of the original note, which the receiver did not produce. The borrower contended that the receiver failed to meet its burden of proof of ownership of the note due it its failure to produce the original copy thereof. Under North Carolina law, the original note was not required to be produced where the borrower failed to call into question the note's authenticity with more than "bald speculation."
VIII. Letters of Credit, Investment Securities, and Documents of Title / Table of Contents