A cheque was altered and presented and paid through an account operated by the defendants. The claimants asserted that the collecting bank had converted the cheque and were liable to repay its value. The cheque having been fraudulently altered, it was held that it had, under the Act, ceased to be a cheque as such, it became avoided, and neither collecting nor paying bank were liable for its face value in conversion.
England and Wales
Banking, Torts – Other
Updated: 15 May 2022; Ref: scu.89318