Joe writes a check for $50.00 to Chris. Before Chris has an opportunity to cash the check, it is stolen by Ron who signs Chris' name. Ron then gives the check to John, who in turn negotiates the check to Tim by writing on the back pay to the order of Tim. Tim signs the check and receives money from the First United Bank, the drawee bank. Upon discovering that the check had been stolen, and improperly indorsed, First United Bank sought recovery of the $50.00 from Tim. Tim then sought recovery from John. John argued that because his signature did not appear on the instrument, he had no liability. Who wins?