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Bills And Notes-Negligent Conduct By Drawer Preventing His Claim That Drawee Paid On A Forged Indorsement, John S. Slavens S. Ed.

Michigan Law Review

X and Y, owners of a joint savings account with the plaintiff bank, delivered their bankbook to Z with a withdrawal receipt signed by both depositors in the amount of $75. Z fraudulently altered the receipt, a form used only in paying directly to a depositor, by raising the amount to $5,000, and then presented the bankbook and altered instrument to a teller employed by plaintiff, asking for $5,000. The teller, unwilling to give Z the money, was then instructed to alter the receipt so as to give it the appearance of a check. Then on behalf of plaintiff, …