Vest v. First National Bank of Fairbanks
This text of 659 P.2d 1233 (Vest v. First National Bank of Fairbanks) is published on Counsel Stack Legal Research, covering Alaska Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
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[1234]*1234OPINION
Cecil Vest asserts that Wayne Heston, former vice president of First National Bank of Fairbanks, converted payroll checks endorsed by Vest for deposit to his bank account and passed forged checks written on Vest’s account. Vest further alleges that when he approached Heston, in his capacity as a bank officer, to inquire about shortage in the account, Heston fraudulently concealed his own wrongdoing and misrepresented that the bank would repay the shortages due to the forged checks. Vest has submitted affidavits establishing the substance of Heston’s statements to him and the other material allegations of his complaint.
Vest avers that these events took place in 1976 and 1977. Applying the general two year statute of limitations applicable to causes of action sounding in tort,1 the superior court granted summary judgment to First National Bank and Daniel Talcott. We reverse upon the ground that the six year limitation set forth in AS 09.10.050(3) applies.2
That statute provides that:
No person may bring an action ... (3) for taking, detaining, or injuring personal property, including an action for its specific recovery ... unless commenced within six years.
By its terms, AS 09.10.050(3) governs actions in trover for conversion. See Teren v. Howard, 322 F.2d 949, 954 (9th Cir.1963) (applying identical Oregon statute); Deetz v. Cobbs & Mitchell Co., 253 P. 542, 543 (Ore.1927). An action by the payee of a check against a bank failing to deposit the check sounds in conversion, Chemical Workers Basic Union Local No. 1744 v. Arnold Savings Bank, 411 S.W.2d 159, 162 (Mo.1966), and therefore falls under AS 09.-10.050(3). See Fabricon Products v. United California Bank, 264 Cal.App.2d 113, 70 Cal.Rptr. 50, 53 (Cal.App.1968) (interpreting similar statute in like circumstances). We see no reason to suspect that AS 09.10.-050(3) does not mean exactly what it appears to mean. Inasmuch as the applicable period of limitations is six years, the action was timely and summary judgment inappropriate.
REVERSED and REMANDED.3
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Cite This Page — Counsel Stack
659 P.2d 1233, 1983 Alas. LEXIS 387, Counsel Stack Legal Research, https://law.counselstack.com/opinion/vest-v-first-national-bank-of-fairbanks-alaska-1983.