Trustmark Insurance Co. v. Bank One, Arizona, NA
Court of Appeals of Arizona
48 P.3d 485 (2002)
Relevant factsFree
Trustmark (plaintiff) instructed Bank One (defendant) to maintain a $10,000 balance and automatically transfer funds whenever its account reached $110,000, requiring continuous account monitoring, and sued under Article 4A after Bank One failed to execute the transfers for over a year, allowing the account to reach over $19 million.
IssueFree
Whether, under Article 4A of the Uniform Commercial Code, instructions to a bank that place a condition on payment, other than the time of payment, qualify as payment orders.