Court of Appeals of New York
Clemente Bros. Contracting Corp. v. Hafner-Milazzo, 64
In the case where a bank customer is a corporate entity that either is financially sophisticated or has the resources to acquire professional guidance, as here, the agreement between a bank and its customer to shorten from one year to 14 days the statutory time period under Uniform Commercial Code 4-406 (4) within which a customer must notify its bank of an improperly paid item in order to recover the payment thereon, is permissible.
Appellate Information
- Decided 05/08/2014
- Published 05/08/2014
Judges
- LIPPMAN
Court
- Court of Appeals of New York