Question
Adam Paul Strege (APS) opened a checking account at U.S. Bank. Just below his signature card for the account, he wrote, Call if I bounce
Adam Paul Strege (APS) opened a checking account at U.S. Bank. Just below his signature card for the account, he wrote, "Call if I bounce a check." APS bounced several checks, and each time U.S. Bank covered those checks but it did not notify APS of the bounced check status. The result was that APS continued to write checks and U.S. Bank had to request funds from him to cover the overdrafts in his account. APS refused to pay the amount due because he argued that U.S. Bank had breached its agreement with him to report all bounced checks. Discuss whether U.S. Bank had the obligation to notify APS of the bounced checks. Twomey, David P.; Jennings, Marianne M.; Greene, Stephanie M. Anderson's Business Law and the Legal Environment, Comprehensive Volume (p. 596). Cengage Learning. Kindle Edition.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started