Question

Boris can write checks on his account at city bank. demi steals the checks, forges bores signature, and cashes the checks at city bank. this bank is excused from any liability if, after receipt of the first forged check, boris fails to report the forgeries within how many days?

Answer 1

Boris has 30 days to report forged checks to the bank to avoid the bank being excused from liability for any subsequent forged checks cashed by the thief.

Step-by-step explanation:

The question pertains to the liability of a bank in the case of forged checks. In most jurisdictions, Uniform Commercial Code (UCC) specifies that a bank customer, such as Boris in this scenario, typically has a maximum of 30 days to report any forgeries after receiving the first bank statement containing the fraudulent transaction. If Boris fails to notify City Bank about the forgeries within this time frame, the bank may be excused from liability for the subsequent forged checks cashed by Demi.