VII. Commercial Paper and Electronic Funds Transfers
A. Negotiable Instruments and Holder in Due Course
- Bank of New York v. Romero, 2014-NMSC-007, 82 U.C.C. Rep Serv 2d 716 (N.M. 2014) - A bank did not become the "holder" of a note under UCC Article 3 where note was not endorsed to the bank but was instead specially endorsed to the initial lender. UCC § 1-201(b)(__)
- Coastal Agricultural Supply Incorporated v. JPMorgan Chase Bank N.A., 759 F.3d 498 (5th Cir. 2014) - [Evaluating Bank's Article 3 liability for fraudulent indorsement by employee bookkeeper.]
- Alpacas of America, LLC v. Groome, 317 P.3d 1103, 82 U.C.C. Rep Serv 2d 649 (Wash. Ct. App. Div. 2 2014) - Notes signed by buyers representing the purchase price of goods were negotiable instruments and that the failure to pay the notes resulted in separate claims under the notes and sales contract.
- U.S. Bank N.A. v. Yashouafar, __ Cal.App.4th __ (Cal.Ct. App. 2015) - No prepayment fee due until defendants actually prepaid the note's indebtedness.
- Charles R. Tips Family Trust v. PB Commercial LLC, 2014 WL 4085496 (Ct App Texas 2014) - Note that misstated in words the amount loaned could not be reformed because of pleading error.
- Rajamin v. Deutsche Bank National Trust Company, __ F.3d __ (2d Cir.. 2014) - Transfer of note automatically transfers related mortgage and obligor under the note does not have standing to challenge failure to comply with trust agreement.
B. Electronic Funds Transfer
VIII. Letters of Credit, Investment Securities, and Documents of Title / Table of Contents