Change in order to improve his chances of recovery

Reference no: EM13264353

On November 7, 2010, Edward Nicholson issued a check in the amount of $21,000 payable to the order of Michael Kittinger based upon Kittinger's fraudulent representations concerning a real-estate transaction. That same day Kittinger delivered the check without endorsing it to Chase Bank, which paid him $ 5,000 in cash and deposited the balance to his account. Chase Bank stamped the back of the check "Pay any bank, banker, or trust company, prior endorsements guaranteed" and sent it to the drawee, Metropolitan Bank, for payment. Metropolitan paid Chase Bank and deducted $21,000 from Nicholson’s account.

Four months later, Nicholson discovered he had been defrauded; he immediately notified the Chase and Metropolitan banks of the situation. Kittinger has since departed for parts unknown.

Does Nicholson have any chance of recovering his money from either bank? Why or why not? What facts might we change in order to improve his chances of recovery?

Reference no: EM13264353

Questions Cloud

Review the social criticisms of marketing described : Review the social criticisms of marketing described in your text. Use those social critcisms as a framework to identify some specific issues that the marketing department of Pepsico should consider when formulating their marketing strategy.

Compare the recipes of nutrient agar-hektoen enteric agar : Compare the recipes of nutrient agar and hektoen enteric agar. If an organism can grow on both media, on which would you expect it to grow better? Why?

Increase a child''s social cognitive skills : What can parents do to increase a child's social cognitive skills and foster moral maturity? Be specific with your answers to both.

Functions make a program easier to understand : Functions make a program easier to understand. Do you agree with that statement? Why or why not?

Change in order to improve his chances of recovery : Does Nicholson have any chance of recovering his money from either bank? Why or why not? What facts might we change in order to improve his chances of recovery?

Will wireless eventually phase out a wired connection : Will wireless eventually phase out a wired connection with respect to internet access? Your opinion?

Would this be best left to a third party software : What responsibility does an OS have to protect itself with network intrusions? Would this be best left to a third party software? Your thoughts?

Difference between proportions experiencing sexual abuse : In a sample of children and adolescents who are receiving treatment for aggression, 31 out of 68 females reported sexual abuse, while 53 out of 255 males reported such abuse. Construct a 95% confidence interval for the difference between proportions ..

Difference between system defined and user defined functions : What is a function? State the advantages in using a function. What is the difference between system defined and user defined functions?

User Account

All Pages