Question

1. Mary, the Treasurer of ABC Corporation issues a check to “Bradley James”, who represents himself as the Bradley James who replaced the 8^th floor windows at the corporation’s headquarters. In fact, the person to whom she gave the check was an impostor. The fake James cashes the check at ABC’s bank after showing the teller a driver’s license issued to a Bradley James. When Mary discovers the error, she demands that ABC’s bank re-credit ABC’s account, and that the Bank suffer the loss. What is the correct result? Will ABC or ABC’s bank suffer the loss? Why?

Answer 1