Mark loses his checkbook. he requests and executes a written stop-payment order for the missing checks. four months later, his bank pays check #543 (one of the missing checks) in the amount of $2,500. who is liable for the loss of $2,500

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Dee

Business

14 September, 16:21

Mark loses his checkbook. he requests and executes a written stop-payment order for the missing checks. four months later, his bank pays check #543 (one of the missing checks) in the amount of $2,500. who is liable for the loss of $2,500

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Duckling · Answer 1

For this problem, the bank is liable for the loss of $2,500. It should not have paid check #543. Moreover, the bank is obligatory to honor the written stop-payment order made by Mark for six months. Therefore, Mark does not have the share of liability in this case.