Logourl black
From our private database of 14,100+ case briefs...

Patriot Bank v. Navy Federal Credit Union

Virginia Circuit Court
47 U.C.C. Rep. Serv. 2d 662, 2002 WL 481129 (2002)


Facts

Thomas Peeso obtained a cashier’s check from Navy Federal Credit Union (Navy) (defendant), payable to Peeso. Peeso indorsed the check over to Nation’s Auto Loan Center (Nation’s Auto). Nation’s Auto wrote its account number at Patriot Bank, N.A. (Patriot) (plaintiff) on the check and deposited the check into its account. Patriot credited Nation’s Auto’s account for the check amount and submitted the check to Navy for payment. Navy refused to pay the check and returned the check to Patriot, stating that Nation’s Auto had failed to properly indorse the check. Peeso asked Navy to stop payment on the check, and Navy did so. Peeso obtained a second cashier’s check from Navy, payable directly to Nation’s Auto. Nation’s Auto deposited the second check in an account at another bank. Patriot tried to reverse the credit that Patriot had given to Nation’s Auto on the first cashier’s check, but Nation’s Auto had already ceased doing business, and Nation’s Auto’s account with Patriot was overdrawn. Patriot sued Navy, arguing that Nation’s Auto had properly indorsed the first cashier’s check and that Navy had wrongfully refused to honor the check upon presentment.

Rule of Law

The rule of law is the black letter law upon which the court rested its decision.

To access this section, please start your free trial or log in.

Issue

The issue section includes the dispositive legal issue in the case phrased as a question.

To access this section, please start your free trial or log in.

Holding and Reasoning (Roush, J.)

The holding and reasoning section includes:

  • A "yes" or "no" answer to the question framed in the issue section;
  • A summary of the majority or plurality opinion, using the CREAC method; and
  • The procedural disposition (e.g. reversed and remanded, affirmed, etc.).

To access this section, please start your free trial or log in.

What to do next…

  1. 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 97,000 law students since 2011. Some law schools—such as Yale, Vanderbilt, Berkeley, and the University of Illinois—even subscribe directly to Quimbee for all their law students. Read our student testimonials.

  2. 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. Read more about Quimbee.

Here's why 219,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 14,100 briefs, keyed to 189 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.