Opinion ID: 2995218
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Heading Rank: 3

Heading: Ill Comp. Stat. 5/1-103. Although the

Text: scheme perpetrated by Hemmen is a common one, no provision of the Code delineates what a bank’s rights and obligations are when a person presents a corporate check payable to the bank and instructs the bank to divert the proceeds of the check to his own benefit. See Bullitt, 684 S.W.2d at 291. As we noted earlier, the common-law rule governing this situation springs from the duty of care that the bank owes its depositors. The Code provisions governing the relationship be tween a bank and its customer recognize and embrace that duty. See, e.g., 810 Ill. Comp. Stat. 5/4-103, 5/4-406; see also 810