674.302
Payor bank’s responsibility for late return of item.
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674.302 Payor bank’s responsibility for late return of item.—
(1) If an item is presented to and received by a payor bank, the bank is accountable for the amount of:
(a) A demand item, other than a documentary draft, whether properly payable or not, if the bank, in any case in which it is not also the depositary bank, retains the item beyond midnight of the banking day of receipt without settling for it or, whether or not it is also the depositary bank, does not pay or return the item or send notice of dishonor until after its midnight deadline; or
(b) Any other properly payable item unless, within the time allowed for acceptance or payment of that item, the bank either accepts or pays the item or returns it and accompanying documents.
(2) The liability of a payor bank to pay an item pursuant to subsection (1) is subject to defenses based on breach of a presentment warranty (s. 674.2081) or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank.
History.—s. 1, ch. 65-254; s. 36, ch. 92-82.
Note.—s. 4-302, U.C.C.; supersedes s. 676.55.
Notes of Decisions
Cited in 7
cases, 1973–2002 · leading case: SCADIF, S.A. v. First Union National Bank
SCADIF, S.A. v. First Union National Bank (2002)
“(“SCADIF”), has sued First Union National Bank (“First Union”), alleging that First Union is strictly liable to SCADIF in the amount of ,215,083 because First Union failed to pay or return a check for that amount before the midnight deadline imposed by section 674.302, Florida…”
Gathercrest Ltd. v. First American Bank & Trust (1985)
“The liability of a payor bank for late return of an item is set forth in Florida Statutes § 674.302: Payor Bank’s Responsibility for Late Return of Item.”
Peoples Bank in North Fort Myers v. Bob Lincoln, Inc. (1973)
“Fla. Stat. § 674.302 provides: In the absence of a valid defense such as breach of a presentment warranty (§ 674.”
Great Western Bank v. Steve James Ford, Inc. (1996)
“A collecting bank is required to seasonably notify its customer upon learning that a documentary draft has not been paid. Fla.Stat. Ann. § 674.”
Bank of Miami v. BANCO INDUS. Y GANADERO (1987)
“This count alleges that the Bank of Miami is liable to Banco Beni for violating Section 674.302, Florida Statutes (1979), which provides: "In the absence of a valid defense such as breach of presentment warranty (s.”
Bufman Organization v. Federal Deposit Insurance (1996)
“Fla.Stat.Ann. § 674.302. This rule encourages the acceptance of checks as a method of payment, because it assures that any insufficiency of the drawer’s funds will be promptly communicated to the payee.”
First Bank of Immokalee v. Fwcc (1999)
“201, Florida Statutes (1993), contains the general definitions of the Uniform Commercial Code of which section 674.302 is a part. Section 671.201(38) states that: "`Send' in connection with any writing or notice means to deposit in the mail .”
— 674.302(1) — 3 cases
SCADIF, S.A. v. First Union National Bank (2002)
“(“SCADIF”), has sued First Union National Bank (“First Union”), alleging that First Union is strictly liable to SCADIF in the amount of ,215,083 because First Union failed to pay or return a check for that amount before the midnight deadline imposed by section 674.302, Florida…”
Gathercrest Ltd. v. First American Bank & Trust (1985)
“The liability of a payor bank for late return of an item is set forth in Florida Statutes § 674.302: Payor Bank’s Responsibility for Late Return of Item.”
First Bank of Immokalee v. Fwcc (1999)
“201, Florida Statutes (1993), contains the general definitions of the Uniform Commercial Code of which section 674.302 is a part. Section 671.201(38) states that: "`Send' in connection with any writing or notice means to deposit in the mail .”
— 674.302(1)(a) — 1 case
Bufman Organization v. Federal Deposit Insurance (1996)
“Fla.Stat.Ann. § 674.302. This rule encourages the acceptance of checks as a method of payment, because it assures that any insufficiency of the drawer’s funds will be promptly communicated to the payee.”
— 674.302(2) — 2 cases
Gathercrest Ltd. v. First American Bank & Trust (1985)
“The liability of a payor bank for late return of an item is set forth in Florida Statutes § 674.302: Payor Bank’s Responsibility for Late Return of Item.”
SCADIF, S.A. v. First Union National Bank (2002)
“(“SCADIF”), has sued First Union National Bank (“First Union”), alleging that First Union is strictly liable to SCADIF in the amount of ,215,083 because First Union failed to pay or return a check for that amount before the midnight deadline imposed by section 674.302, Florida…”
— 674.302(l)(a) — 1 case
SCADIF, S.A. v. First Union National Bank (2002)
“(“SCADIF”), has sued First Union National Bank (“First Union”), alleging that First Union is strictly liable to SCADIF in the amount of ,215,083 because First Union failed to pay or return a check for that amount before the midnight deadline imposed by section 674.302, Florida…”
— 674.302(l)(b) — 1 case
Great Western Bank v. Steve James Ford, Inc. (1996)
“A collecting bank is required to seasonably notify its customer upon learning that a documentary draft has not been paid. Fla.Stat. Ann. § 674.”
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