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SCN BANK v. FIRST UNION NATIONAL BANK

23797

310 S.C. 428 (1993)

427 S.E.2d 169

SOUTH CAROLINA NATIONAL BANK, Appellant v. FIRST UNION NATIONAL BANK, Respondent.

Supreme Court of South Carolina.

Decided February 1, 1993.

Rehearing Denied March 10, 1993.

Attorney(s) appearing for the Case

Stanley H. McGuffin, of Hutcheson & Warren, Columbia, for appellant.

William T. Toal, of Johnson, Toal & Battiste, P.A., Columbia; Edward T. Hinson, Jr., of James, McElroy & Diehl, P.A.; and Barbara J. Hellenschmidt, First Union Corp. Legal Div., of Charlotte, NC, for respondent.

Heard March 11, 1992;

Decided Feb. 1, 1993.

Reh. Den. March 10, 1993.

FINNEY, Justice:

This is a dispute between two banks over liability for uncollectible documentary drafts. We affirm.

The Seller of automobiles presented its bank, appellant South Carolina National Bank (SCN), with twelve documentary (or envelope) drafts signed by the Buyer of the cars. The evidence at trial showed that automobile dealers commonly use these drafts...

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