Legal Question in Banking Law in Utah
Joint savings account
I have a joint savings account set up as my name and my sons name. The bank explained that since it was and not and or that we would both have to be present to take money out of the account. My son has not signed a signature card. My 17 year old son received a check and he went to the bank and cashed it. The check bounced and the bank took the money out of his savings account. Is this leagal. What if anything can we do? Is the bank liable in any way?
Asked on 12/22/07, 8:54 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Joint savings account
Talk to the bank -
review the terms of the deposit agreement you signed at the time the account was opened.
Answered on 12/25/07, 11:57 pm
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