Would a bank be liable to a customer who indorsed a check For deposit only into account
Question:
Would a bank be liable to a customer who indorsed a check “For deposit only into account #071698570” if that check were deposited into the wrong account? What if the customer’s indorsement was “For deposit only”? Would any account qualify? Would any bank qualify? [Qatar v First American Bank of Virginia, 885 F Supp 849 (ED Va)]
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (16 reviews)
In the case the court held the bank would be liab...View the full answer
Answered By
Keziah Thiga
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagirism), well-researched and critically analyzed papers.
4.90+
1504+ Reviews
2898+ Question Solved
Related Book For
Andersons Business Law and the Legal Environment
ISBN: 978-0324786668
21st Edition
Authors: David p. twomey, Marianne moody Jennings
Question Posted:
Students also viewed these Business Law questions
-
If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your account after 5 years?
-
If you deposit %10,000 in a bank account that pays 10 percent interest annually, how much would be in your account after 5 years?
-
First Local Bank would like to improve customer service at its drive- in facility by reducing waiting and transaction times. On the basis of a pilot study, the banks process manager estimates the...
-
Using the Trust Services Principles and Criteria for the Online Privacy Principle, develop an online privacy policy for Alltel Stadium that could be posted on the stadiums website for customers to...
-
Use the information in P 23-6 to prepare a charge-discharge statement for the estate of Tom Josephson for the period May 16, 2013 through June 30, 2013. In Problem 6 Tom Josephson, Testator Inventory...
-
Coggins Inc. owns the following assets at the balance sheet date. What amount should be reported as Cash in the balance sheet? Cash in bank-savings account Cash on hand Cash refund due from the IRS...
-
On a balance sheet, what valuation must be reported for shortterm investments in trading securities? AppendixLO1
-
Chemical Financial Corporation signs an agreement on January 1, 2014, to lease equipment to Chells, Inc. The following information relates to this agreement. 1. The term of the noncancelable lease is...
-
for the net cash flow sequence of -10000$ in year zero,+3000$ in year one ,-2000$ in year two +8,000$ in year three, and +6,000 in year four, the number of possible rate of return solutions (positive...
-
We take 6 pairs of siblings and we measure their IQ. We get the following data: First born kid: 130, 118, 132, 100, 140, 145 . Second born kid: 110, 120, 118, 106, 122, 119 where we list siblings in...
-
Ollies Barbecue is a family-owned restaurant in Birmingham, Alabama, specializing in barbecued meats and homemade pies, with a seating capacity of 220 customers. It is located on a state highway 11...
-
Two employees of the state of New Mexico fraudulently procured and indorsed a warrant (a draft drawn against funds of the state) made out to the Greater Mesilla Valley Sanitation District. There was...
-
Volunteer Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1, 2018 and received $540,000. Interest is payable annually. The premium is amortized using the...
-
X 18. State the amplitude and period of: y = -4cos Graph one cycle of the function. 4 1 19. State the amplitude and period of: y = -sin(4x) Graph one cycle of the function. 4
-
Explain ways in which an organisation may overcome security vulnerabilities and issues?
-
A nonpipelined system takes 300ns to process a task. The same task can be processed in a 4-stage pipeline with a clock cycle of 50ns. Determine the speedup ratio of the pipeline for 400 tasks. What...
-
Within an orthodontic practice that I work in, insufficient patient care and poor time management are the most significant issues in the office. Beginning with the receptionists, scheduling...
-
How has the decision been improved with more of a focus on financial information? Why would it have been a better decision? How could you have included more financial information and where might it...
-
Advanced: Optimal output using the graphical approach and the impact of an increase in capacity A company makes two products, X and Y. Product X has a contribution of 124 per unit and product Y 80...
-
As water moves through the hydrologic cycle, water quality changes are common because of natural phenomena or anthropogenic pollution. Using Figure 11.1, describe how water-quality changes occur...
-
Solve the inequalities in Problems 4150. 4G 1>3(G+2) -
-
Summarize the rights of employees and employers as provided by the National Labor Relations Act.
-
When are states totally preempted from regulation of the labor field, according to Supreme Court decisions?
-
Define union security and explain its importance to labor leaders.
-
What is the present value of $500 invested each year for 10 years at a rate of 5%?
-
GL1203 - Based on Problem 12-6A Golden Company LO P2, P3 Golden Corp.'s current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are...
-
A project with an initial cost of $27,950 is expected to generate cash flows of $6,800, $8,900, $9,200, $8,100, and $7,600 over each of the next five years, respectively. What is the project's...
Study smarter with the SolutionInn App