Legal Question in Banking Law in New York

Generally speaking,

The sale of the handbag may fall under UCC article 2 where the risk of loss shifted to the buyer as soon as the seller delivered the goods to the shipper (also known as F.O.B.). However, to determine if UCC article 2 is applicable in your case the transaction would need to be reviewed including any invoices, agreements and/or emails that you have had with the buyer.

In the interim you should request a trace from the USPS as well as contact your business insurance provider to see whether you are covered for business loss. You should also consider retaining an attorney who would review whether the transaction is a UCC 2 transaction and demand from the bank to unfreeze the account in its entirety or at least just set aside the $7k.

Please contact me off line for help in this matter.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

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