Question

Mr. Gennone maintained a checking account at Peoples National Bank & Trust Company of Pennsylvania (Bank). Gennone noticed that he was not receiving his bank statements and canceled checks. When Gennone contacted Bank, he was informed that the statements had been mailed to him. Bank agreed to hold future statements so that he could pick them up in person. Gennone picked up the statements but did not reconcile the balance of the account. As a result, it was not until two years later that he discovered that beginning more than one year earlier, his wife had forged his signature on 25 checks. Gennone requested Bank to reimburse him for the amount of these checks. When Bank refused, Gennone sued Bank to recover. Did Gennone act ethically in suing the bank? Who wins? Gennone v. Peoples National Bank & Trust Co., 9 U. C. C. Rep. Serv. 707, 1971 Pa. Dist. & Cnty. Dec. Lexis 551, 51 Pa. D. & C. 2d 529 (Common Pleas Court of Montgomery County, Pennsylvania)


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  • CreatedAugust 12, 2015
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