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What is Far East Bank vs. Gold Palace Ruling about?

Far East Bank & Trust Co. V. Gold Palace Jewelry Co. Gold Palace sold jewelry to a foreign customer who paid with a foreign draft for 380,000 pesos that was later found to be altered from 300,000 pesos. Gold Palace deposited the draft into its account with Far East Bank. When the alteration was discovered, Far East debited Gold Palace

Author

Alexir Mendoza

Language

EN