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OAK BROOK BANK v. NORTHERN TRUST CO.

No. 00-3309.

256 F.3d 638 (2001)

OAK BROOK BANK, Plaintiff-Appellant, v. NORTHERN TRUST COMPANY, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided July 6, 2001.

Attorney(s) appearing for the Case

James E. Dahl (argued), Dahl & Associates, Chicago, IL, from Plaintiff-Appellant.

Stephen M. Shapiro (argued), Jeffrey W. Sarles, Mayer, Brown & Platt, Chicago, IL, for Defendant-Appellee.

Before BAUER, POSNER, and KANNE, Circuit Judges.

POSNER, Circuit Judge.

A bank that dishonors a check presented to it for payment must return the check to the bank in which the check had been deposited (the "depositary" bank), either directly or via a "returning bank," which acts as a transmitting agent. (The bank to which the check is presented for payment is called, even if it dishonors the check, the "payor" bank — a confusing usage in this context since it has refused to pay the check.) Like the...

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