Statute of Limitations

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Bankers Digest Featured Articles
November 7, 2011 Issue
Source: “One Court of Justice Blog,” Warner Norcross & Judd, Appellate Group Practice

In Estate of Thelma L. DeGoede, by Vella Trader v Comerica Bank, f/k/a Industry State Bank & Trust Company, No. 296129, the State of Michigan Court of Appeals held that the statute of limitations did not bar a plaintiff’s claim against a bank for failing to honor three certificates of deposit (CDs), reasoning that “the statute of limitations does not begin to run until a demand for payment has been made” and rejecting the defendant’s argument that the statute of limitations begins to run when a CD matures. The publication date of the case is June 30, 2011... read more.