David Siegel maintained a checking account with the New England Merchants National Bank (Bank). On September 14,
Question:
David Siegel maintained a checking account with the New England Merchants National Bank (Bank). On September 14, Siegel drew and delivered a $ 20,000 check payable to Peter Peters. The check was dated November 14. Peters immediately deposited the check in his own bank, which forwarded it for collection. On September 17, Bank paid the check and charged it against Siegel’s account. Siegel discovered that the check had been paid when another of his checks was returned for insufficient funds. Siegel informed Bank that the check to Peters was postdated November 14 and requested that the bank return the $ 20,000 to his account. When Bank refused, Siegel sued for wrongful debit of his account. Must Bank recredit Siegel’s account? Siegel v. New England Merchants National Bank, 386 Mass. 672, 437 N. E. 2d 218, 1982 Mass. Lexis 1559 (Supreme Judicial Court of Massachusetts)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
Yes the New England Bank will have to recredit Siegels account for the 20000 However because the New ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.