[CLC-Discussion] Arnie's Construction Law Christmas Haikus

[Gibbons, Michael]

Been a few years since commercial law but check out Fla. Stats. s. 673.3021 (definition of "holder in due course")  and s. 673.3051(2) (rights of holder in due course to enforce instrument and what defenses are available to the obligor).  Basically, the check cashing store is likely a Holder in Due Course under the UCC which means they took the check as a negotiable instrument for value without notice of any underlying defense to enforceability of the check.  Per statute cited, defenses limited to narrow class (e.g., infancy, duress, fraud in connection with original issuance of check or discharge in bankruptcy).

Michael R. Gibbons
Shareholder
Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
215 N. Eola Drive
Orlando, FL 32801
Phone: 407-418-6378
Fax: 407-843-4444
email: michael.gibbons at lowndes-law.com
website: http://www.lowndes-law.com

        


-----Original Message-----
From: clc-discussion-bounces at lists.flabarrpptl.org [mailto:clc-discussion-bounces at lists.flabarrpptl.org] On Behalf Of Jeffrey Eisensmith
Sent: Tuesday, August 23, 2016 3:33 PM
To: Timothy R. Moorhead; Roberts, Hardy L.; Bruce Partington
Cc: clc-discussion at lists.flabarrpptl.org
Subject: Re: [CLC-Discussion] Arnie's Construction Law Christmas Haikus

I have a GC client that got caught up in a checking cashing scheme. The client paid a sub who went to a check cashing store and cashed the checks. The sub was arrested and the money was confiscated. Anyone familiar with this situation and/or familiar with the UCC requirements to pay the check cashing store? An attorney familiar with the banking statutes and regulations would be helpful.

Jeffrey R. Eisensmith
Jeffrey R. Eisensmith, P.A.
5561 North University Drive, Suite 103
Coral Springs, Florida 33067
Telephone: 954-523-7601
Telefax: 754-242-9752



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