Generally assuming no negligence on the part of the victim when

Question

Generally, assuming no negligence on the part of the victim, when an endorsement on a check has been forged and properly reported to the bank, which party is the party ultimately liable for the loss?

A. The drawer.

B. The first party to accept the forged instrument.

C. The first legitimate endorser of the instrument.

D. The bank of the first party to accept the forged instrument.

E. The bank of the drawer even if proper notice was given of the forgery.

Answer

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