[DOWNLOAD] "Sinclair Oil Corp. v. Sylvan State Bank" by Supreme Court of Kansas " eBook PDF Kindle ePub Free

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eBook details

• Title: Sinclair Oil Corp. v. Sylvan State Bank
• Author : Supreme Court of Kansas
• Release Date : January 04, 1994
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 66 KB

Description

The opinion of the court was delivered by This case is pending in the United States District Court for
the District of Kansas. It comes before this court on three
questions certified by the United States District Court pursuant
to K.S.A. 60-3201 et seq. With the certified questions, the
United States District Court in its memorandum and order has
provided us with a factual background and summary of the legal
issues presented. In order to focus upon the questions in
context, we set forth verbatim the order received:

"Pursuant to K.S.A. 60-3201 et seq., this court
hereby certifies to the Kansas Supreme Court the
following questions of Kansas law which are deemed to
be determinative of this action and as to which no
controlling precedent exists in the decisions of the
Kansas Supreme Court or the Kansas Court of Appeals:

(1) Where electronic debit items are involved, do
the National Automated Clearing House Rules
(`NACHA Rules') and Operating Letter No. 12 of
the Federal Reserve Bank of Kansas City
(`Operating Letter') modify the provisions of
Article IV of the Kansas Uniform Commercial Code
as they relate to the presentment and return of
automated clearing house (`ACH') items?

(2) If so, are the NACHA Rules and Operating
Letter applicable to a dispute between a bank
that receives an ACH credit item and the party
initiating that item where the initiating party
is not a financial institution and is not a party
to the NACHA Rules or Operating Letter?

(3) If the NACHA Rules and Operating Letter are
applicable to a dispute between these parties, is
the measure of damages the face amount of the
debit item under K.S.A. 84-4-302(a), or the
actual damages directly attributable to the late
return of the item under K.S.A. 84-4-103(e)? The applicability of NACHA Rules and a Federal
Reserve Operating Letter to a dispute between a
payee and a payor bank is a question of first
impression in Kansas. Neither the Kansas Supreme
Court nor the Kansas Court of Appeals has
resolved this issue. Therefore, the determination
of whether, under Article IV of the Kansas
Uniform Commercial Code, the rules and operating
letter will govern a dispute between these
parties is proper for certification from the
United States District Court for the District of
Kansas to the Kansas Supreme Court pursuant to
K.S.A. 60-3201.

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