Ivan receives his June 2015 Friendly Bank statement and promptly calls the bank to report a series of forged checks shown on the statement dating back to March 2015. Friendly Bank must credit Ivan's account for the forged checks.

Question

Quizplus · Accepted Answer

After receiving and examining their statements, customers must notify the bank of any wrongdoing, such as forgery, within 30 days after the depositor receives the bank statement. If they do not do so, depositors cannot hold the bank responsible for losses due to the bank's payment of a forged or altered instrument.

Ivan Receives His June 2015 Friendly Bank Statement and Promptly