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GRAUBART v. BANK LEUMI TRUST

48 N.Y.2d 554 (1979)

David Graubart, Inc., Respondent, v. Bank Leumi Trust Company of New York, Appellant.

Court of Appeals of the State of New York.

Decided December 19, 1979.

Attorney(s) appearing for the Case

Amos Alter and Stephen F. Harmon for appellant.

Samuel W. Gilman for respondent.

Chief Judge COOKE and Judges JASEN, GABRIELLI, JONES, WACHTLER and MEYER concur.

FUCHSBERG, J.

On this appeal, here on a question certified by the Appellate Division pursuant to CPLR 5602 (subd [b], par 1), we are called upon to determine the role played by article 4 of the Uniform Commercial Code in fixing rights and obligations arising out of a second presentment of a check previously returned for insufficient funds. The heart issue is whether a payor bank is relieved of liability for retaining...

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