673.4111

Refusal to pay cashier’s checks, teller’s checks, and certified checks.

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673.4111 Refusal to pay cashier’s checks, teller’s checks, and certified checks.—

(1) In this section, the term “obligated bank” means:

(a) The acceptor of a certified check; or

(b) The issuer of a cashier’s check or teller’s check bought from the issuer.

(2) If the obligated bank wrongfully refuses to pay a cashier’s check or certified check, wrongfully stops payment of a teller’s check, or wrongfully refuses to pay a dishonored teller’s check, the person asserting the right to enforce the check is entitled to compensation for expenses and loss of interest resulting from the nonpayment and may recover consequential damages if the obligated bank refuses to pay after receiving notice of particular circumstances giving rise to the damages.

(3) Expenses or consequential damages under subsection (2) are not recoverable if the refusal of the obligated bank to pay occurs because:

(a) The bank suspends payments;

(b) The obligated bank asserts a claim or defense of the bank that it has reasonable grounds to believe is available against the person entitled to enforce the instrument;

(c) The obligated bank has a reasonable doubt whether the person demanding payment is the person entitled to enforce the instrument; or

(d) Payment is prohibited by law.

History.—s. 2, ch. 92-82.

Notes of Decisions

Cited in 3 cases, 2001–2015 · leading case: Arnold, Matheny, Pa v. First Am. Holdings

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Arnold, Matheny, Pa v. First Am. Holdings (2008) fla · cites it 4× “See § 673.4111(2), Fla. Stat. (2002). [11] A bank may honor the check for at least the ninety days following the date of a cashier's check or the date of acceptance of a certified check.”

JTM, INC. v. Totalbank (2001) fladistctapp · cites it 6× “4111 gives only "the person asserting the right to enforce" the cashier's check standing to sue for dishonor.”

Peter Torocsik v. HSBC Bank USA, National Association, etc., and Matthew Weaver, etc. (2015) fladistctapp · cites it 2× “The seller’s action for damages against the Bank was based on section 673.4111, Florida Statutes (2008), which provides in pertinent part: (1) In this section, the term “obligated bank” means: (a) The acceptor of a certified check; or (b) The issuer of a cashier’s check or…”

— 673.4111(2) — 2 cases

Arnold, Matheny, Pa v. First Am. Holdings (2008) fla “See § 673.4111(2), Fla. Stat. (2002). [11] A bank may honor the check for at least the ninety days following the date of a cashier's check or the date of acceptance of a certified check.”

JTM, INC. v. Totalbank (2001) fladistctapp “4111 gives only "the person asserting the right to enforce" the cashier's check standing to sue for dishonor.”

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