Tavor Corporation v. Downey National Bank
Published: Mar. 20, 1999 | Result Date: Nov. 19, 1998 | Filing Date: Jan. 1, 1900 |Case number: VC024339 Verdict – $17,700
Judge
Court
L.A. Superior Norwalk
Attorneys
Plaintiff
Defendant
Experts
Plaintiff
Howard Riley Jr.
(technical)
Defendant
Yamynn Swe
(technical)
Anne Silver Conway
(technical)
Facts
Tavor Corporation's employee, a secretary, embezzled $57,685. The secretary accomplished the embezzlement over a period of seven months by stealing nine company checks and writing them to herself forging the signature of the President of the Company. Downey National bank honored the checks and never once questioned the signatures. The secretary was able to conceal the embezzlement from her employer by intercepting the monthly bank statements,cutting the checks and replacing the check with an acceptable payee. Tavor Corporation discoverd the embezzlement when the employee was unable to intercept the mail which contained the most recent forged checks. On the next business day from the discovery of the forgery, Tavor presented their claim of the forged checks to Downey National with a signed confession from the wrongdoer. Downey National Bank denied Tavor's claim. The plaintiff brought this action against the defendant based on breach of contract and California Commercial code violations.
Settlement Discussions
The plaintiff made a settlement demand for $29,500. The defendant made a C.C.P. º998 offer of compromise for $250.00.
Damages
$57,685 (economic). Bank payment of forged checks.
Other Information
The verdict was reached approximately one year and seven months after the case was filed.
Deliberation
40 minutes
Poll
____-____
Length
seven days
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