Granite corp sent a check to overseas equipment co when the, Ask an Expert

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Granite Corp. sent a check to Overseas Equipment Co. When the check was reported lost, Granite wrote to its bank telling it to stop payment on the check. Granite then sent the money to Overseas Equipment Co. by wire.

Thirteen months later, the check turned up, and Granite's bank paid it. Did the bank violate its duty to stop payment on the check? Explain.

Granite Equip. Leasing Corp. v. Hempstead Bank, 326 N.Y.S.2d 881 (NY).

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Management Theories, Management Studies

Category:- Management Theories
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