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Bataan Cigar & Cigarette Factory (BCCFI) issued crossed checks to a supplier, George King, to pay for tobacco leaf deliveries. However, King failed to deliver all the leaves. King then sold some of the crossed checks to State Investment House (SIHI). When King failed to deliver the remaining leaves, BCCFI issued stop payments on the checks. SIHI sued BCCFI to collect on the checks. The Supreme Court ruled that SIHI was not a holder in due course because the checks were crossed, putting SIHI on notice to inq

Author

Adi Lim

Language

EN