Legal Question in Banking Law in South Dakota

Bank Mistake

If a bank makes an error and establishes a CD in an individual's account, and the individual dishonestly redeems the flawed CD, is the individual held liable for the value?


Asked on 8/24/07, 7:09 pm

1 Answer from Attorneys
VOLTAIRE T. DUANO VOLTAIRE T. DUANO LAW OFFICE

Re: Bank Mistake

My practcal view is that the bank should be held liable for negligence while the dishonest individual should be charged criminally for the felonious act of redeeming the flawed CD knowing that he has no legal right thereto.

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Answered on 8/25/07, 10:52 am


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