Charles Alcombrack was appointed guardian for his son, Chad Alcombrack, who was seven years old and the beneficiary of his grandfather's life insurance policy. The insurance company issued a check for $30,588.39 made payable to "Charles Alcombrack, Guardian of the Estate of Chad Stephen Alcombrack, a Minor." The attorney for the son's estate directed the father to take the check, along with the letters of guardianship issued to the father, to the bank and open up a guardianship savings and checking account. Instead, the father took the check, without the letters of guardianship, to the Olympic Bank and opened a personal checking and a personal savings account. Despite the fact that the check was payable to the father in his guardianship capacity, the bank allowed the father to place the entire amount in his newly opened personal accounts. The father used all but $320.60 of the trust money for his personal benefit. A new guardian, J. David Smith, was appointed for Chad. Smith brought suit against the Olympic Bank, on Chad's behalf, to recover the amount of the check. Was the bank a holder in due course of the check?
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