Forman v. First National Bank of Woodridge

The defendant bank moves for summary judgment dismissing the complaint on several grounds. *434The court will consider only the issue of the timeliness of the action.

The complaint states that on January 23, 1964 a check in the amount of $2,600 was issued on which the plaintiffs and a third corporate party were copayees; that plaintiffs’ indorsements were forged and, further, on January 31, 1964 the defendant collecting bank wrongfully disposed of the proceeds by crediting the account of the corporate payee. This action was commenced July 10,1970.

The defendant bank assigns two reasons for granting…