Marvin forges Ed Moore's signature on a check for $500.00 and cashed it at Legacy Bank. Marvin then skips town never to be found again. Which statement below is correct?

Question

Quizplus · Accepted Answer

Legacy Bank will be liable for the value of the forged instrument because it accepted and cashed a check with a forged signature, failing to verify the authenticity of the signature.

Marvin Forges Ed Moore's Signature on a Check for $500