J
jrparke
Guest
Without my knowledge or consent, my ex-wife walked into her bank with a $16,000 check which was payable to both myself and her (Pay to the order of: John AND Marsha). However, the bank wrongfully negotiated the check without my signature. My ex-wife has made off with all the money, and the bank allowed her to do it! The Uniform Commercial Code expressly prohibits the discharge of an instrument except by all the payees.
The bank claims they are responsible to reimburse me only half the amount of the check, or $8,000. It seems wrong that a bank can decide how much of that check belonged to me, and how much belonged to my ex-wife. That should not be for the bank to decide. I'm looking for information about the obligations a bank is under when it has wrongfully negotiated an unnegotiable instrument. I live in the state of Utah. Thanks in advance.
The bank claims they are responsible to reimburse me only half the amount of the check, or $8,000. It seems wrong that a bank can decide how much of that check belonged to me, and how much belonged to my ex-wife. That should not be for the bank to decide. I'm looking for information about the obligations a bank is under when it has wrongfully negotiated an unnegotiable instrument. I live in the state of Utah. Thanks in advance.