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NORTHERN TRUST CO. v. CHASE MANHATTAN BANK

No. 343, Docket 84-7505.

748 F.2d 803 (1984)

The NORTHERN TRUST COMPANY, Plaintiff-Appellant, v. The CHASE MANHATTAN BANK, N.A., Defendant-Appellee.

United States Court of Appeals, Second Circuit.

Decided November 23, 1984.

Attorney(s) appearing for the Case

Laura Effel, New York City (Marianne Popiel, New York City, of counsel), for defendant-appellee.

Michael C. Spencer, Cravath, Swaine & Moore, New York City (Ralph L. McAfee, Richard F. Simmons, John Gleeson, New York City, of counsel), for plaintiff-appellant.

Before KAUFMAN and TIMBERS, Circuit Judges and MISHLER, Senior District Judge.

PER CURIAM.

The Northern Trust Company, as drawee and purported drawer of a forged negotiable instrument, sought in the district court to recover monies paid to The Chase Manhattan Bank, N.A., as drawee of the instrument. Judge Wyatt held that Northern Trust could not recover on the theory of money had and received, and had no cause of action for negligence or conversion. Moreover, he held that the final payment rule, see N.Y. Uniform Commercial Code §...

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