Decibel Credit Union v. Pueblo Bank & Trust Co.

996 P.2d 784 (2000)

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Nature of the Case

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Facts

A thief stole blank checks from a P customer. The thief forged the signature of the customer on checks totaling $2,350. Each of the checks was cashed at D where the thief had a bank account. The thief's checking account nor his ready reserve account ever had sufficient funds to cover the checks that were being cashed. D processed all the checks and P timely paid them. Eventually, the customer received his bank statement and immediately notified P. P demanded reimbursement from D. P sued D for breach of both presentment and transfer warranties. Both P and D filed motions for summary judgment. P got the judgment and D appealed.