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ADMASTER, INC. v. MERRILL LYNCH, PIERCE, FENNER & SMITH INC.

183 A.D.2d 477 (1992)

Admaster, Inc., Appellant, v. Merrill Lynch, Pierce, Fenner & Smith Incorporated et al., Respondents

Appellate Division of the Supreme Court of the State of New York, First Department.

May 12, 1992

Plaintiff commenced this action to recover the face amount of unauthorized checks written on its account by its employee, payable to defendant Merrill Lynch, Pierce, Fenner & Smith Incorporated and deposited in the employee's account with Merrill Lynch. The court properly determined that Merrill Lynch was a holder in due course (UCC 3-302 [1] [c]) which took the instruments without notice of any claim or defense against them...

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