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CHAMPION INTERN. CORP. v. UNION NAT. BANK

No. 846SC393.

325 S.E.2d 656 (1985)

CHAMPION INTERNATIONAL CORPORATION v. UNION NATIONAL BANK.

Court of Appeals of North Carolina.

February 19, 1985.

Attorney(s) appearing for the Case

Royster, Royster & Cross by T.S. Royster, Jr., Oxford, for defendant-appellant.

Bailey, Dixon, Wooten, McDonald & Fountain by David M. Britt, Wright T. Dixon, Jr., and Gary K. Joyner, Raleigh, for plaintiff-appellee.

ARNOLD, Judge.

The question presented by this appeal is whether the Bank improperly cashed three certificates of deposit to the registered holder when it had notice that the State Bureau of Investigation (SBI) had confiscated the actual certificates in connection with an investigation of fraud and embezzlement of Champion by an employee.

The Bank argues that Article 3 of the UCC applies to the certificates and suggests that its handling of the certificates...

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