One of Doriss job responsibilities at Winkie, Inc., was preparing company checks for the president, Willie, to
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One of Doris’s job responsibilities at Winkie, Inc., was preparing company checks for the president, Willie, to sign. Using Winkie’s check-signing machine, Doris forged $150,000 of checks on her employer’s account. Willie did not (1) look at the sequence of check numbers, (2) examine the monthly account statements, (3) reconcile company records with bank statements. Winkie’s bank, as a matter of policy, did not check indorsements on checks with a face value of less than $1,000. By accident, it paid a forged check that had not even been indorsed. Is the bank liable to Winkie, Inc., for the forged checks?
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Related Book For
Essentials Of Business Law
ISBN: 9781337404198
6th Edition
Authors: Jeffrey F Beatty, Susan S Samuelson
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