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LOWE'S OF SANFORD v. MID-SOUTH BANK & TR. CO.

No. 7911SC282.

260 S.E.2d 801 (1979)

44 N.C. App. 365

LOWE'S OF SANFORD, INC., Plaintiff, v. MID-SOUTH BANK AND TRUST COMPANY, Defendant and Third-Party Plaintiff, v. Billy T. GLADDEN, Jr., and Billy T. Gladden, Sr., First Third-Party Defendants, v. SOUTHERN NATIONAL BANK OF NORTH CAROLINA, Second Third-Party Defendant, v. Harry E. WILSON, Third Third-Party Defendant.

Court of Appeals of North Carolina.

December 18, 1979.

Attorney(s) appearing for the Case

McElwee, Hall, McElwee & Cannon, by William H. McElwee III, North Wilkesboro, for plaintiff appellee.

McDermott & Parks, by O. Tracy Parks III, Sanford, for defendant appellant.

HILL, Judge.

A cashier's check is a bill of exchange drawn by a bank upon itself and accepted in advance by the act of its issuance and not subject to countermand either by its purchaser or by the issuing bank. The bank's issuance of the cashier's check, which by definition is also an acceptance, constitutes an engagement by the bank to honor the check as presented extinguishing the right of the bank or anyone else to countermand the check. State of Pa....

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