National Title Insurance Corp. Agency v. First Union National Bank
Supreme Court of Virginia
559 S.E.2d 668
Relevant factsFree
National's deposit agreement with the Bank required notice of unauthorized items within 60 days of the relevant statement's mailing. Two counterfeit checks were paid, and National failed to notify the Bank within 60 days of either statement. The trial court granted summary judgment to the Bank.
IssueFree
Whether a bank may, through an agreement with its customer, shorten the one-year period for reporting unauthorized signatures or alterations under UCC § 4-406(f).