Friday, August 26, 2011

Sixth Circuit -- EA Management v. JP Morgan Chase Bank NA

Bank was not required to honor cashiers checks when it acted as both payor and depositor, meaning that it received no consideration on the deal, defeating any UCC claim against it.

Plaintiff was not legally in a position to enforce the instrument, separately defeating the claim.

 EA Management v. JP Morgan Chase Bank NA
Compiled by D.E. Frydrychowski, who is, not incidentally, not giving you legal advice.

Category tags above are sporadically maintained Do not rely. Do not rely. Do not rely.

Author's SSRN page here.