New York Statutes
§ 4-402 — Bank's Liability to Customer for Wrongful Dishonor
New York·Law UCC Uniform Commercial Code·Part 4 Relationship Between Payor Bank and Its Customer·Art. 4 Bank Deposits and Collections
Section 4--402. Bank's Liability to Customer for Wrongful Dishonor.\n A payor bank is liable to its customer for damages proximately caused\nby the wrongful dishonor of an item. When the dishonor occurs through\nmistake liability is limited to actual damages proved. If so proximately\ncaused and proved damages may include damages for an arrest or\nprosecution of the customer or other consequential damages. Whether any\nconsequential damages are proximately caused by the wrongful dishonor is\na question of fact to be determined in each case.\n
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Related
Goldsmith Motors Corp. v. Chemical Bank
300 A.D.2d 440 (Appellate Division of the Supreme Court of New York, 2002)
Campbell v. Citibank, N.A.
302 A.D.2d 150 (Appellate Division of the Supreme Court of New York, 2003)
Nearby Sections
15
§ 4-101
Short Title§ 4-102
Applicability§ 4-106
Separate Office of a Bank§ 4-107
Time of Receipt of Items§ 4-108
Delays§ 4-109
Process of Posting§ 4-203
Effect of Instructions§ 4-206
Transfer Between Banks