A check was drawn on the defendant bank and made payable to the plaintiff. The check was deposited with the X bank for collection and forwarded by X bank to the Y bank. Y bank forwarded the check to the Federal Reserve Bank which sent it by mail to the defendant bank. The defendant bank, upon receipt of the check, marked it “return” because of insufficient funds. The following day Federal bank examiners seized control of the cash items of the bank, and as a consequence the defendant bank was unable to trace and return the check for more than forty-eight hours. Plaintiff, payee, brought suit contending that the defendant bank had accepted the check by its silent holding for more than twenty-four hours. Held, that the failure of the defendant bank to return the check within twenty-four hours after its receipt did not constitute acceptance.
Robert L. Walker,
Bills and Notes—Constructive Acceptance of a Check by Retention,
38 Neb. L. Rev. 1053
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