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Return to the facts of the last Problem. Assume that Octopus National Bank successfully recaptured its money from Merchants Bank under a theory of breach
Return to the facts of the last Problem. Assume that Octopus National Bank successfully recaptured its money from Merchants Bank under a theory of breach of a presentment warranty. Now Merchants Bank calls in its attorney and asks for legal advice. Can it sue the check cashing store using 4-208(a) (note the word drawee in subsection (a))? How does it get legal relief? See 4-207(a). What warranties have been breached? Must it give notice to the check cashing store within any given period of time? See 4-207(d). If the latter refuses to pay, how quickly must suit be commenced? See 4-111; cf. 3-118
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