
Nathan received his February checking account statement and then his March statement,but failed to reconcile these statements with his bank records.The bank statements included a list of check numbers,amounts and dates of payment,but not the canceled checks.Unbeknownst to Nathan,Eddie had been stealing blank checks,forging Nathan's name,and passing the checks as payment for goods and services throughout the months of February and March.The bank was not careless in paying the checks.When Nathan got his April monthly bank statement,he examined the statements for all three months.It was then that he realized that his account balance showed $2000 less than what it should,and he began to investigate.Nathan sued the bank for total reimbursement for the forged checks.Nathan will:
A) lose because Nathan did not report the forgeries within 30 days of receiving his monthly bank statements.
B) win because the bank did not send Nathan the canceled checks.
C) win because the bank paid a check on which Nathan's name was forged.
D) win because this is a breach of contract by the bank.
Correct Answer:
Verified
Q4: Carl did not ask First Bank for
Q5: Li deposited her federal tax refund check
Q6: Luther writes a check to Grant on
Q7: TriColor instructed Great State Bank to wire
Q8: Article 4 of the UCC governs bank
Q10: Aaron deposits money in a checking account
Q11: Which of the following is true about
Q12: Twenty days after receiving her bank statement,Gwen
Q13: Which of the following is true of
Q14: On December 18,Bob wrote his grandson a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents