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FOR IMMEDIATE RELEASE Contact: Charles Shimberg, Esq. (856) 857–0700 SHIMBERG & FRIEL, P.C. OBTAINED A REVERSAL OF AN ORDER OF JUDGMENT. Cherry Hill, NJ, February 16, 2007 — On January 26, 2006, SHIMBERG & FRIEL, P.C. obtained a reversal of an Order of Judgment in a case involving a check that was presented to a bank and paid for more than the sum for which it was drafted. In Psak, Graziano, Piasecki & Whitelaw vs. Fleet National Bank and GE Capitol Mortgage Services a/k/a Wells Fargo Home Mortgage, 2007 WL 187959 (App. Div. 2007), the Plaintiff law firm acted as a settlement agent in a real estate transaction and drafted a check in order to pay off a mortgage in a real estate closing. The check was presented to the bank, and due to an ambiguity on the face of the check, was honored for more than sum for which it was drafted. Almost 6 years after the check was negotiated, the law firm brought an action against the banks to recover the funds, and following a bench trial, a judge entered judgment for the Plaintiff, plus costs. The Superior Court of New Jersey, Appellate Division, reversed the lower court and agreed with the arguments made by the banks that the claim was barred by the 3 year statute of limitations applicable to negotiable instruments and the discovery rule would not apply. The Brief was written and argued by Associate, Anne E. Walters, Esquire. |
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20 Brace Road, Suite 350, Cherry Hill, NJ 08034 • phone: 856.857.0700 • fax: 856.857.1166 Mellon Bank Center, 1735 Market Street, Suite 600, Philadelphia, PA 19103 |
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