Coming attractions: In re Hen House Interstate, Inc. Supreme Court grants certiorariBy Timothy J. HowardCommercial Banking, Collections, and Bankruptcy, March 2000On November 8, 1999, the United States Supreme Court granted certiorari of the en banc decision of the Eighth Circuit Court of Appeals in Hartford Underwriters Ins. Co. v. Magna Bank, N.A. (In re Hen House Interstate, Inc. ) 177 F. 3d 719 (8th Cir. 1999) cert. granted, 120 S. Ct. 444 (1999).
The duty of a bank customer to discover and report unauthorized signatures is prerequisite to suitBy Timothy J. HowardCommercial Banking, Collections, and Bankruptcy, January 1999On June 1, 1998, the First District Appellate Court held that section 4-406(f) of the revised Illinois Uniform Commercial Code (hereinafter "UCC") requires a bank customer to notify its bank of unauthorized signature or alteration of an instrument within a year of the bank statement or items being made available to the customer in order for the customer to preserve its right to bring suit against the bank.
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