Montey receives his monthly bank statement on December 30th. He looks at it quickly, then sets it aside. Three days later, he examines it again and discovers a forged check. What must he do to avoid responsibility for the check? Cite Code provisions
He must notify the bank promptly, in a reasonable time not to exceed 30 days (UCC Sec. 4-406(d)). Failure to report within one year of receipt of the statement will bar him from asserting the forgery against the bank (UCC Sec. 4-406(f)).
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