What is the result if a check bears a forged indorsement?

Forged Indorsement -- As a general rule, when a bank pays a check bearing a forged indorsement, the bank is liable and must credit the drawer's account. However, the loss will probably fall on the first person or party to take the forged instrument.

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Affidavit regarding Employee who embezzled the proceeds of an...

Philadelphia Pennsylvania Affidavit regarding Employee who embezzled the proceeds of an Endorsed Check Payable to the Employer of Employee

Name: Philadelphia Pennsylvania Affidavit regarding Employee who embezzled the proceeds of an Endorsed Check Payable to the Employer of Employee
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Affidavits - Employment

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Multi-State

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Philadelphia

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US-03430BG

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An affiant is a person who swears to the truth of statements made in an affidavit. An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). The person making the signed statement (affiant) takes an oath that the contents are, to the best of their knowledge, true. It is also signed by a notary or some other judicial officer that can administer oaths, affirming that the person signing the affidavit was under oath when doing so.

Embezzlement is the fraudulent appropriation of money by someone entrusted with its care on behalf of others, but who uses it for his/her own purposes. Embezzlement typically occurs in the employment and corporate settings. It is a crime that may involve small sums or very large sums of money. Embezzlers commonly steal relatively small amounts repeatedly over a long period of time, although some embezzlers steal one large sum at one time.

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How to fill out Philadelphia Pennsylvania Affidavit Regarding Employee Who Embezzled The Proceeds Of An Endorsed Check Payable To The Employer Of Employee?

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A forged endorsement involves forging the payee's signature for negotiation. Frequently, a forged endorsed check contains the true signature of the account holder. Forged endorsed items can be identified as first-, second-, or third-endorsed items.

The term forged check is often used to describe a check on which the drawer's signature is forged or unauthorized. Such a check is meaningless as far as the drawer whose signature is forged is concerned. The drawee bank that pays a forged check is generally responsible for the resulting loss.

If a check is made payable to a business, then an authorized person must endorse the check on behalf of the business. Sign the name of the business as it appears on the pay-to line. Sign your name. Write your title with the company (Owner, Accountant, etc.) Add any restrictions like For Deposit Only

Forged Indorsement -- As a general rule, when a bank pays a check bearing a forged indorsement, the bank is liable and must credit the drawer's account. However, the loss will probably fall on the first person or party to take the forged instrument.

A conviction for check forgery may lead to both prison time and hefty fines. However, the level of offense for forging a check is determined by the amount of money that was involved. In addition to a jail or prison sentence, a conviction will also appear on a criminal record.

It's important to write the name of the person that you are signing the check over to in the endorsement area under your signature. This signals to the bank that you are endorsing the transfer of ownership for the check.

If the payee of a check you have written fails to endorse a deposited check, that check may be returned to you. By returning an unendorsed check, the Bank is protecting you against the negotiation of a stolen check.

Drawee Bank Liability for Forged Endorsements Under the UCC, a check bearing a forged endorsement is not properly payable (Revised UCC . 4-401). If the drawee bank pays a check bearing a forged endorsement, then it is obligated to recredit the drawer account for the item.

Restrictive Endorsement To make one, you should, in any order: Write For Deposit Only on one line. Write the account number on another line. Sign your name on another line.

Contact your bank or credit union right away. State law generally provides that you are not responsible for a check if someone forged the signature of the person to whom you made out the check. Tell your bank or credit union what happened and ask for the money to be restored to your account.

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Philadelphia Pennsylvania Affidavit regarding Employee who embezzled the proceeds of an Endorsed Check Payable to the Employer of Employee

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How to fill out Philadelphia Pennsylvania Affidavit Regarding Employee Who Embezzled The Proceeds Of An Endorsed Check Payable To The Employer Of Employee?

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How does forged endorsement work?

What does it mean when a check is forged?

How do you endorse a check on behalf of a company?

What is the result if a check bears a forged indorsement?

What happens to someone who forges a check?

Does endorsing a check claims ownership of the check?

Can a check be returned for improper endorsement?

Who is liable for a forged endorsement on a check?

What do you write on the back of a check for a restrictive endorsement?

What happens if a check is forged?

Interesting Questions

What is a Philadelphia Affidavit?

What is embezzlement?

What is an Endorsed Check?

What should an employer do if an employee embezzled the proceeds of an Endorsed Check?

What is the purpose of a Philadelphia Affidavit in relation to embezzlement?

What kind of information should be included in a Philadelphia Affidavit regarding embezzlement?

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