HOME INS. CO. v. MFRS. HANOVER TRUST CO.


203 A.D.2d 125 (1994)

610 N.Y.S.2d 508

Home Insurance Company, Respondent, v. Manufacturers Hanover Trust Company, Appellant

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

April 19, 1994


The IAS Court correctly held that defendant's acceptance of drafts for deposit without endorsements was commercially unreasonable as a matter of law (UCC 3-419 [1], [3]; see, Tonelli v Chase Manhattan Bank, 41 N.Y.2d 667), and that the authority of plaintiff's agent to approve the drafts was no defense where, as here, the drafts contained no endorsements whatsoever (compare<...

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