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Question
Penny draws a check for $25.00 on her Big Bank checking account payable to the order of Carol. Carol puts a "5" in front of the 2, raising the check to $525.00, and indorses it. She then negotiates the check to Mel. Mel then presents the check for payment to Big Bank, which pays her $525 and charges Penny's account that amount. Penny asks Big Bank to recredit her account for $500.00, and Big Bank does so. What recourse does the Bank have and against whom?
Answer
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