imposter rule |
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Definition
That in cases where a person obtains a negotiable instrument (such as a check) by impersonating another person and endorses it with the impersonated person's signature, the loss falls on the drawer of the instrument and not on the third party that accepts the instrument or the bank that cashes it. See also fictitious payee rule.
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imposter rule is in the Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.
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