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MGMT 520 Week 5 Case Analysis, Gossels v. Fleet National Bank
The national fleet bank credited the amount of Gossels on 15th, December 1999. But, later, Gossels realized that he would have made more money if the bank had credited the check one month before. As a result, Gossels took the case against the bank for negligent misinterpretation (Gossels v. Fleet National Bank). The bank was supposed to advise its client (Gossels) that they would payout his check at a retail exchange rate. Which was a percentage lower compared to the spot rate that it received for the foreign currency. But the bank chose to set a daily rate secretly since their workers were advised not to disclose to the members of the public…………….Continued (05 Pages with References)
MGMT 520 Week 5 Case Analysis
