Tally held a savings account with american security bank on, Ask an Expert

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Tally held a savings account with American Security Bank. On seven occasions, Tally's personal secretary, who received his bank statements and had custody of his passbook, forged Tally's name on withdrawal slips that she then presented to the bank.

The secretary obtained $52,825 in this manner. She confessed this to Tally after avoiding detection for several years.

Tally, upon being informed of this, notified the bank of the issue (which was three years after his secretary's last withdrawal). Can Tally recover the funds from American Security Bank? The bank moved for partial summary judgment. Decision?

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Management Theories, Management Studies

Category:- Management Theories
Reference No.:- M92196874

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