Legal analysis from Dean's Law Dictionary will be displayed here.

This section contains the nature of the case and procedural background.

Security Pacific (D; third party defendant) mistakenly wired $1,974,267.97 for a client to Banque Worms (P). Security sought the return of the money arguing that P must demonstrate detrimental reliance to retain the funds that were mistakenly wired. This was highly improbable because the mistake was discovered within hours. The United States Court of Appeals certified a question relating to this case to the New York Court of Appeals to determine if New York would apply the discharge for value rather than the rule of money paid under mistake may be recovered unless payment has caused change in position and it would be unjust.

The legal issues presented in this case will be displayed here.

The court's holding and decision will be displayed here.