L. Shuster Smith and Others v. . Abraham D.A. Miller, Impleaded With John Greiner and Others.

Summary

The New York Court of Appeals reversed the lower courts' judgment and granted a new trial, holding that the plaintiffs’ one‑day delay in presenting the drawee’s check constituted laches and discharged the defendants from liability on the draft. The Court reasoned that, absent an express agreement, the check was not payment and the creditor’s duty was to present it promptly.