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Case Summary |
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2961 Under the California Uniform Commercial Code, a bank owes no common law duty to protect a non-depositor from fraudulent indorsement of checks by employees whom the non-depositor has entrusted with responsibility for checks, but the Code makes a bank liable to the extent that its failure to use reasonable care in accepting checks for deposit caused damage to the maker or payee.CitationNEWMAN v WELLS FARGO BANK (Crooked Employees) 87 CA4 73 [See: CA UCC 3405; Sun 'n Sand v UCB 21 C3 671] |
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Finz Case Law Summaries (Finz Advance Tapes)
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