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GUARDIAN LIFE INS. CO. OF AM. v. CHEM. BANK

47 A.D.2d 608 (1975)

Guardian Life Insurance Company of America, Appellant, v. Chemical Bank, Respondent

Appellate Division of the Supreme Court of the State of New York, Third Department.

February 4, 1975

Upon the death of its insured, one Richard M. Maluk, plaintiff drew a check in the sum of $10,182, payable to Peter Maluk, the beneficiary of the $10,000 life insurance policy issued by plaintiff on the decedent's life. Plaintiff mailed this check to the insurance broker, who then forged the name of the beneficiary. The check was subsequently paid by defendant, the drawee bank. Under section 3-406 of the Uniform Commercial Code plaintiff...

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