Asked by Jasleen Sekhon on Jul 15, 2024
Verified
In the case in the text Huntington National Bank v.Guishard,Wilburn & Shorts,what was the court's holding?
A) Gray was not responsible because he had no knowledge or intent to commit theft or fraud.
B) Gray was not responsible because GSW's name was on the deposit slip.
C) Gray was responsible for $16,500 because he knowingly committed fraud.
D) Gray was responsible for $16,500 because he breached the transfer warranty.
Huntington National Bank V.Guishard
This likely refers to a specific legal case or decision involving Huntington National Bank and an individual or entity named Guishard, but without additional context, a detailed definition cannot be provided.
Deposit Slip
A document that accompanies bank deposits, detailing the amount of cash and checks being deposited as well as the deposit account number.
- Analyze court holdings related to negotiable instruments and bank transactions.
Verified Answer
CS
Caroline SmithJul 17, 2024
Final Answer :
D
Explanation :
Because the checks contained fraudulent indorsements,Gray breached the transfer warranty and was strictly liable under the Ohio Code.Pursuant to the Ohio Code,Huntington was permitted to recover the "amount equal to the loss suffered" up to the "amount of the instrument plus expenses and loss of interest," regardless of how much he received personally.Thus,liability in the amount of $16,500 was appropriate to impose against Gray.
Learning Objectives
- Analyze court holdings related to negotiable instruments and bank transactions.