Fourth Circuit: Stop Payment Order Doesn't Require Magic Words
LexisNexis (November 20, 2017, 1:57 PM EST) -- In a recent unpublished decision applying Virginia law to a marital dispute, the Fourth Circuit has ruled that a stop payment order does not require any special language so long as it unambiguously orders the depository bank to refuse payment of a check, with sufficient lead-time for the bank to act. Rusnack v. Cardinal Bank, N.A., 2017 U.S. App. LEXIS 13409 (4th Cir. Md. 7/25/17).
The Fourth Circuit case: a HELOC problem. The Fourth Circuit sets forth the facts of the case: