Counterfeit Checks — What Rules Should Cover These?
By Janet Flaccus · October 10, 2011 · 2011 Ark. L. Notes
In categories: Business Law, Debtor/Creditor, Financial Institutions Law
Let’s start with the facts of a Seventh Circuit case, Wachovia Bank, N.A. v. Foster Bancshares, Inc. Last year I wrote to say we in Arkansas should not follow an Ohio case. Here I argue that we should not follow the reasoning of a Seventh Circuit case. Even worse, part of its reasoning is used in an earlier Texas case. I would think that Arkansas courts would follow cases from the Seventh Circuit and the Texas Court of Appeals. I hope they do not. What follows are some arguments you can use to try and convince a court not to follow either of these cases. I guess I have a bit of chutzpah!