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Question
Small Bank mistakenly dishonors a $5,000 check written by its customer Wanda to Hyram Real Estate as a down payment for a new home. As a result of the dishonor Wanda's closing is delayed by thirty days. She incurs $500 extra rental expenses, $1000 in attorney's fees and home mortgage interest rates increase by one half percent before her closing. Hyram deposited the $5,000 check in its account and suffered $300 in NSF charges when credit for the deposit was withdrawn. Discuss the liability of Small Bank to Wanda and Hyram.
Answer
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