Section 32 Fraudulent Endorsement by Employees
| Library | Commercial Law 2007 |
If an employer entrusts an employee with responsibility with respect to an instrument and the employee, or a person acting in concert with the employee, makes a fraudulent endorsement of the instrument, the endorsement is effective if it is made in the name of the person to whom the instrument is payable. Section 400.3-405(b), RSMo 2000. As with impostors and fictitious payees, if the person paying the instrument or taking it for value or for collection after a fraudulent endorsement by an employee fails...
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