Seigel v. Merrill Lynch Case Analysis Study Example | Topics and Well Written Essays - 500 words

Seigel v. Merrill kill Analysis - Case Study ExampleAs a matter of fact, Seigel was obliged to make these payments eitherway. there was no reason for him to stop making these payments. It is also a fact that he had given book of instructions to Merrill kill to stop payment against the checks issued by him to the casinos against gambling chips. However, the court ruled that since Seigel had not suffered any genuine loss and the checks were payments rightfully made in view of his gambling dues, Merrill Lynch could not be convicted for any wrong doing.Prima facie, Merrill Lynch erred in not adhering to the instructions to stop payments against the checks. It was a mistake on the part of Merrill Lynch to pass the checks after having received instructions from their client, Seigel, to stop making payments against these checks. In fact, Merrill Lynch did stop payments against many checks issued to the casinos by Seigel. However, they did not fully adhere to instructions and cleared c ertain checks amounting to $143,000 issued by Seigel to these casinos.The courts view that since Seigel abrogated his rights to these monies after losing them to the casinos, he could not seek legal reprieve even if Merrill Lynch had lose his instructions to stop payment against these checks appear proper and fair.