Banco Frances E. Brasileiro v. John Doe
New York Court of Appeals
36 N.Y.2d 592, 370 N.Y.S.2d 534, 331 N.E.2d 502 (1975)
Banco Frances E. Brasileiro, S.A. (Brasileiro) (plaintiff), a private foreign bank, relied on a series of fraudulent applications made by 20 John Does (defendants). As a result, Brasileiro wrongly exchanged Brazilian cruzeiros into travelers checks worth about $1 million in United States dollars. Two of the John Does deposited a substantial amount of the checks into accounts with other New York financial firms. Brasileiro won a tort action for fraud against the John Does, and the accounts at the New York financial firms were attached. The first appellate court dismissed Brasileiro’s tort complaint and denied relief on grounds that New York courts could not hear an action arising from a tort related to violation of foreign currency restrictions. The holding relied on an earlier case interpreting the Bretton Woods Agreement (Bretton Woods). In the earlier case, a New York appellate court ruled that a court may not allow a foreign government bank to sue for damages in tort for violations of its foreign currency rules related to exports of coffee with fraudulent documentation. Brasileiro appealed the dismissal of its complaint.
Rule of Law
Holding and Reasoning (Jasen, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 710,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 710,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 44,600 briefs, keyed to 983 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.