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Home / Opinion Digests / Wire-fraud torts pre-empted by UCC (access required)

Wire-fraud torts pre-empted by UCC (access required)

A bank’s liability for depositing wired funds procured by fraud is generally governed by Article 4A of the Uniform Commercial Code, the court held, although the bank’s representations to the defrauded party may create a cause of action for negligence. This case concerns the rights and liabilities of the parties when a wire transfer goes awry ...