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If a Person Paying an Instrument Subject to the Impostor

question 70

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If a person paying an instrument subject to the impostor rule fails to exercise ordinary care, the issuer may recover from the payor to the extent the payor's negligence contributed to the loss.


Definitions:

Free Agent

An individual who is free to make decisions and act independently, often used in the context of professional sports to describe players who are not bound by contracts to any team.

German Immigrant

An individual who has migrated from Germany to another country, often in search of better living conditions, economic opportunities, or freedom.

Irish Immigrant

An individual originally from Ireland who has moved to another country to live, especially noted during the 19th and early 20th centuries to the United States due to famine and economic reasons.

Wage Earners

Individuals who are compensated for their labor with salaries or wages.

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