CopyCited 12 times | Published | Florida 1st District Court of Appeal | 21 U.C.C. Rep. Serv. (West) 183
...d without dishonor until the close of the next business day following presentment... ." Sec. 673.508(2), F.S. 1973, "Notice of dishonor": "Any necessary notice [of dishonor] must be given by a bank before its midnight deadline [the next banking day, § 674.104(h)]......
...ay be treated as being received at the opening of the next banking day." Sec.
674.202(2), F.S. 1973, "Responsibility for collection; when action seasonable": "A collecting bank taking proper action before its midnight deadline [the next banking day, §
674.104(h)] following receipt of an item ......
CopyCited 10 times | Published | District Court, S.D. Florida | 2003 U.S. Dist. LEXIS 21201, 2003 WL 21078045
...This case turns on an interpretation of Florida banking law. Florida's statutory version of the Uniform Commercial Code, Article 4, defines an "account" as "any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account." Fla. Stat. § 674.104(1)(a)....
CopyCited 9 times | Published | District Court, M.D. Florida | 1985 U.S. Dist. LEXIS 18147
...§ 673.104. The critical issue is whether or not they are documentary drafts. A documentary draft is "any negotiable or non-negotiable draft with accompanying documents, securities or other papers to be delivered against honor of the draft." Fla.Stat. § 674.104(1)(f)....
...document itself. See Peoples Bank in *119 North Fort Myers v. Bob Lincoln, Inc.,
283 So.2d 400, 402 (Fla. 2d DCA 1973); Memphis Aero Corporation v. First American National Bank, 647 S.W.2d at 222; New Ulm State Bank v. Brown, 558 S.W.2d at 25. Under §
674.104(1)(i), the term properly payable "includes the availability of funds for payment at the time of decision to pay or dishonor." Courts have differed as to whether or not insufficiency of funds renders an item not "properly payable." Compare Memphis Aero Corporation v....
CopyCited 7 times | Published | District Court, S.D. Florida | 87 U.C.C. Rep. Serv. 2d (West) 182, 2015 U.S. Dist. LEXIS 98235, 2015 WL 4554921
...tic. Therefore, reference is made to BankAtlantic, not BB & T, where appropriate. . An "item” is defined under the Florida Statutes as "an instrument or a promise or order to pay money handled by a bank for collection or payment.” Fla. Stat. § 674.104 (i)....
CopyCited 6 times | Published | Florida 2nd District Court of Appeal | 13 U.C.C. Rep. Serv. (West) 672, 1973 Fla. App. LEXIS 6650
...LILES and McNULTY, JJ., concur. ON PETITION FOR REHEARING AND TO CERTIFY THE CAUSE MANN, Chief Judge. Appellant's petition for rehearing would make it appear that the instrument in question was a documentary draft, which it was not. Cf. Fla. Stat. § 673.104 with § 674.104 (1)(f) (1971), F.S.A....
CopyCited 6 times | Published | Court of Appeals for the Eleventh Circuit | 29 U.C.C. Rep. Serv. 2d (West) 905, 1996 U.S. App. LEXIS 11189
...ance is received by the person to whom presentment is made...." Fla.Stat.Ann. §
673.5011 (1993). The bank's "midnight deadline" is "midnight on its next banking day following the banking day on which it receives the relevant item...." Fla.Stat.Ann. §
674.104(j) (1993) The basic rules regarding the payor bank's liability remain the same under revised U.C.C....
CopyCited 5 times | Published | District Court, S.D. Florida | 48 U.C.C. Rep. Serv. 2d (West) 232, 2002 U.S. Dist. LEXIS 12962, 2002 WL 1473458
...to the midnight deadline rule and documentary drafts, which are governed by part V of Article 4. Professor Langbein expressed his view that inasmuch as the Check and collection letter do not fall into the definition of documentary draft set forth in section
674.104(f), Florida Statutes, the Check could only have been recognized under Florida law as a demand item, subject to the midnight deadline and strict accountability rule of section
674.302(1)(a)....
...s a third category of items subject to Article 4collection items which are not accompanied by commercial documents. See PX44 at ¶ 5; Test. of B. Clark, Dec. 12, at 140:13-142:23. Although the term "demand item" is not defined in Florida Statutes, section 674.104(1)(i) defines an "item" as "a promise or order to pay money handled by a bank for collection or payment." See Test....
...t to defenses based on breach of a presentment warranty (ss.674.2081) or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank. The "midnight deadline" is defined in section 674.104(1)(j), Florida Statutes, as midnight of the next banking day following receipt of the item....
CopyCited 3 times | Published | Florida 2nd District Court of Appeal | 20 U.C.C. Rep. Serv. 2d (West) 1017, 1993 Fla. App. LEXIS 4230, 1993 WL 114778
...ided before the "midnight deadline." In this case, First Florida is the payor bank and Union Bank is the presenting bank. [2] It is undisputed that the midnight deadline in this case, due to a weekend, expired at midnight on Monday, August 18, 1986. § 674.104(h), Fla....
CopyCited 2 times | Published | District Court, S.D. Florida | 2016 U.S. Dist. LEXIS 183865, 2016 WL 4613388
...overned by the Electronic Fund Transfer. Act [“EFTA”] of 1978.” Fla. Stat. Ann. §
670.108 . Therefore, if the Sacks Transfers are governed by the EFTA, they are not covered by Chapter 670 and may constitute “items” within the meaning of §§
674.104® and
674.406....
CopyCited 1 times | Published | Florida 3rd District Court of Appeal | 1987 WL 4126
...t II that the Bank of Miami, by failing to pay or return the checks or to send notice of dishonor before midnight on its next banking day following the banking day on which it received the checks, violated the "midnight deadline" rule, §§
674.302,
674.104(1)(h), Fla....
...payment of that item the bank either accepts or pays the item or returns it and accompanying documents." "Midnight deadline" is defined as "midnight on [the bank's] next banking day following the banking day on which it receives the relevant item." § 674.104(1)(h), Fla....
CopyCited 1 times | Published | Florida 4th District Court of Appeal | 2006 WL 1686486
...ed in his account. The issue on remand will be whether Lucas can be held responsible for the transfer of the stolen and altered check. Section
674.207(1) refers to the "transfer[ ]" of "an item." The definition of an "item" includes an "instrument." §
674.104(1)(i), Fla....
CopyCited 1 times | Published | District Court of Appeal of Florida | 21 U.C.C. Rep. Serv. 2d (West) 1054, 1991 Fla. App. LEXIS 12888, 1991 WL 276886
...“The measure of damages for failure to exercise ordinary care in handling an item is the amount of the item reduced by an amount which could not have been realized by the use of ordinary care, and where there is bad faith it includes other damages, if any, suffered by the party as a proximate consequence.” Section 674.104, Fla.Stat. (1989) (emphasis added). Although section 674.104 does not define “bad faith,” the meaning of the term can be gleaned from other sections of the Code....
...Effective January 1, 1992, the definition of “good faith" is amended to: "‘[G]ood faith’ means honesty in fact and the observance of reasonable commercial standards of fair dealing.” Ch. 91-70 §
670.105(l)(f), Laws of Fla. We express no view regarding the possible effect the new definition will have on section
674.104, Florida Statutes, and the availability of consequential damages in future litigation where bad faith has been alleged....
CopyCited 1 times | Published | United States Bankruptcy Court, M.D. Florida | 15 Fla. L. Weekly Fed. B 176, 2002 Bankr. LEXIS 554
...of America, and was not a payment made on behalf of Legion Insurance. Thus, if anybody received a voidable preference, it was Bank of America and not Legion Insurance. In support of this proposition, Legion Insurance points out that Florida Statutes § 674.104(l)(e) provides that the holder of an account, if the account is overdrawn, is indebted to the bank. However, Section 674.104(l)(e) is the section that defines “customer” as “a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank.” The common feature of both of...
CopyPublished | Supreme Court of Florida | 41 Fla. L. Weekly Supp. 387, 2016 Fla. LEXIS 2044, 2016 WL 4945053
...The qualifying period for all elections by statute is only 96 hours or 4 days long. See §§
99.061(1)-(3), Fla. Stat. 5 Likewise, a collecting bank and payor bank combined are minimally entitled to at least *777 four business days to effect notice of dishonor. See §
674.104(1)(j), Fla....
CopyPublished | Court of Appeals for the Eleventh Circuit
...s received by the person to whom presentment is made....” Fla.Stat.Ann. §
673.5011 (1993). The bank’s "midnight deadline” is "midnight on its next banking day following the banking day on which it receives the relevant item-” Fla. Stat.Ann. §
674.104(j) (1993)....
CopyPublished | District Court of Appeal of Florida | 1984 Fla. App. LEXIS 11495
to cash or deposit any item, as defined in section 674.-104(l)(g), in any bank or depository with intent
CopyPublished | District Court of Appeal of Florida | 41 U.C.C. Rep. Serv. (West) 1348, 10 Fla. L. Weekly 1949, 1985 Fla. App. LEXIS 15482
...Jones’ testimony given the fact that the judgment ruled against FNB on the basis of the conditions for presentment imposed by FNB as opposed to a finding that FNB simply refused the presentment. . Relative to provisional vs. final payment or settlement, see Section 674.104(l)(j), 674.213 and UCC Comments.
CopyPublished | District Court of Appeal of Florida | 14 Fla. L. Weekly 935, 10 U.C.C. Rep. Serv. 2d (West) 453, 1989 Fla. App. LEXIS 1916, 1989 WL 34501
...The sole question on appeal is the construction of §
832.05(3)(a), Florida Statutes (1987), which provides: (3) CASHING OR DEPOSITING ITEM WITH INTENT TO DEFRAUD; PENALTY.— (a) It is unlawful for any person, by act or common scheme, to cash or deposit any item, as defined in s.
674.104(l)(g), in any bank or depository with intent to defraud. Hedglin argues that the instrument included in the definition of “item” under §
674.104(l)(g) must be a negotiable instrument; and, that his drafts were conditional promises to pay and therefore not negotiable. We find no merit in his position. §
674.104(l)(g), Florida Statutes (1987) defines an “item”: (g) “Item” means any instrument or electronically recorded, stored or transmitted message for the payment of money even though it is not negotiable, but does not include money ......
