Charles Ragusa & Son (Ragusa), a partnership consisting of Charles and Michael Ragusa, issued a check in the amount of $ 5,000, payable to Southern Masonry, Inc. (Southern). The check was drawn on Community State Bank (Bank). Several days later, Southern informed Ragusa that the check had been lost. Ragusa issued a replacement check for the same amount and sent it to Southern, and that check was cashed. At the same time, Ragusa gave a verbal stop payment order to Bank regarding the original check. Three years later, the original check was deposited by Southern into its account at the Bank of New Orleans. When the check was presented to Bank, it paid it and charged $ 5,000 against Ragusa’s account. The partnership was not made aware of this transaction until one month later, when it received its monthly bank statement. Ragusa demanded that Bank re-credit its account $ 5,000. When Bank refused to do so, Ragusa sued. Who wins? Charles Ragusa & Son v. Community State Bank, 360 So. 2d 231, 1978 La. App. Lexis 3435 (Court of Appeal of Louisiana)
Answer to relevant QuestionsDavid Siegel maintained a checking account with the New England Merchants National Bank (Bank). On September 14, Siegel drew and delivered a $ 20,000 check payable to Peter Peters. The check was dated November 14. Peters ...Elmer and Arletta Hans, husband and wife, owned a parcel of real property in Illinois. They borrowed $ 100,000 from First Illinois National Bank (First Illinois) and executed a note and mortgage to First Illinois, making the ...Prior Brothers, Inc. (PBI) began financing its farming operations through Bank of California, N. A. (Bank). Bank’s loans were secured by PBI’s equipment and after acquired property. Bank immediately filed a financing ...Margaret Kawaauhau sought treatment from Dr. Paul Geiger for a foot injury. Dr. Geiger examined Kawaauhau and admitted her to the hospital to attend to the risks of infection. Although Dr. Geiger knew that intravenous ...The Hagues, husband and wife, owned a 160 acre tract that they decided to sell. They entered into a listing agreement with Harvey C. Hilgendorf, a licensed real estate broker that gave Hilgendorf the exclusive right to sell ...
Post your question