Imposter rule

Imposter rule,

Definition of Imposter rule:

  1. That in cases where a person obtains a negotiable instrument (such as a check) by impersonating another person and endorses it with the impersonated persons 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.

Meaning of Imposter rule & Imposter rule Definition