1235 A fiduciary who issues checks to its principal has no duty to inspect the indorsements on the checks to assure that they are being indorsed by the payee.
LaMONTE v SANWA BANK (Unchecked Indorsement) 45 CA4 509 [See: Lee v Escrow Consultants 210 CA3 915; Schneider v Union Oil 6 CA3 987]
No guarantees.
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