Article Date: 04/05/2013


Contractor Has to Pay Again to Sub's Secured Creditor


Where a contractor mistakenly paid a subcontractor instead of the sub’s secured creditor bank, the contractor was required to pay the bank the full face amount of the misdirected checks regardless of the bank’s actual damages. The contractor’s only recourse for the double payment was against the subcontractor, which had gone out of business.

 



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