New York Court of Appeals
Hernando Uribe, Appellants v. Merchants Bank of New York, Respondent
March 31, 199891 N.Y.2d 336
Summary
The New York Court of Appeals affirmed the Appellate Division's decision that the term “valuable papers” in a safe‑deposit box rental agreement does not include currency. Accordingly, Merchants Bank of New York is not liable for the alleged loss of cash stored in the box.