Acme Bank is the payee on a negotiable note made by Taylor Reed. Acme Bank sells the note to XYZ Investment Company. The note is endorsed by Acme "without recourse" to XYZ. After the sale, XYZ discovers that the signature of Taylor Reed on the note is a forgery. Taylor refuses to pay the note. Can XYZ recover its loss from Acme Bank?

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The Answer of Acme Bank is the payee on a negotiable note made by Taylor Reed. Acme Bank sells the note to XYZ Investment Company. The note is endorsed by Acme "without recourse" to XYZ. After the sale, XYZ discovers that the signature of Taylor Reed on the note is a forgery. Taylor refuses to pay the note. Can XYZ recover its loss from Acme Bank?

Acme Bank Is the Payee on a Negotiable Note Made