Corfan Banco Asuncion Paraguay v. Ocean Bank
Florida District Court of Appeal
715 So. 2d 967 (1998)
Corfan Bank (plaintiff) wired funds to beneficiary Jorge Silva at Ocean Bank (defendant) but listed an incorrect, nonexistent account number; Ocean Bank confirmed the correct account with Silva directly and credited it before Corfan discovered its error and, without notifying anyone, sent a second correct wire for the same amount, which Silva also withdrew. When Corfan sought repayment of the first, misdirected wire, Ocean Bank refused, and Corfan sued under UCC § 4A-207 and common-law negligence; the trial court granted Ocean Bank summary judgment on both claims.
Whether acceptance of a payment order can occur if the name, bank account number, or other identification of the beneficiary refers to a nonexistent or unidentifiable person or account.