Tacoma, WA asked in Banking, Business Formation, Business Law and Civil Litigation for Oregon

Q: I had a business associate who was going to be a partner rip me off for a lot of money and inventory. We started

I had a business associate who was going to be a partner rip me off for a lot of money and inventory. We started a new joint bank account together at banner bank. What I did not know was he was friends with the assistant manager of the bank. So the next day she cancelled our joint banking account and started him his own account under only his name. So than when I found out I booted him from my property. But because of his relationship with her they were able to turn all the payments for inventory reverse so then I still owe for all of them and he got the cash back for it. I never knew about the bank account closing I never got a phone call never got a letter never any communication between the bank and I of the account being closed. Can I sue the bank for allowing her to do the things she did which I do not believe are legal, I believe it is conflict of interest.

1 Lawyer Answer
Ana Maria Del Valle-Aguilera
Ana Maria Del Valle-Aguilera
  • Business Law Lawyer
  • Miami, FL

A: If you opened a personal joint bank account, it is usually opened "A or B",not "A and B", which makes a huge difference. If the account was opened as "A or B" or "A,B", the meaning is the same. The Terms and Conditions agreement you would have been given by the bank at account opening would tell you your rights in regards to the account. Unless two signatures were required on the account (hardly offered by banks any more), each account holder has full authority over the account and the instructions of one is enough to close the account. You mention that certain payments were reversed but the account was supposedly closed the next day after opening, so they most have been returned for " account cosed". This can cause you legal problems with your suppliers and affect your credit. I recommend you discuss this with a local attorney that can look into what happened at the bank and the business relationship you had, to see what legal steps you can take.

Good luck,.

My response provides only general information and is not intended to provide you with specific legal advice, nor create an attorney-client relationship. You should not use or rely on this information without first consulting with your own lawyer and discussing your specific facts and available options in detail.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.