Answer to Question 1
TRUE
Answer to Question 2
Wire transfers
The trial court ruled in favor of Masri, but on appeal, this ruling was reversed. The appellate court pointed out that Masri signed the wire transfer request, which read, FVBC shall not be responsible for non-performance or loss or damage by reason of or resulting from: errors, de-lays, omissions or defaults in transmission or receipt of any communication; errors, delays, omissions or defaults of our correspondents, their agents or sub-agents; . . . or for any cause beyond our control, all of which risks are assumed by you. . . . No refund shall be made by us, if because of erroneous identification, payment has been made to one other than the Benefi-ciary. The court noted that Masri was a physician and psychiatrist with the capacity to under-stand agreements that he signed. While Masri testified that he did not read the language on the reverse side of the wire transfer agreement, he is nevertheless bound by that language. In the absence of fraud, duress, or mutual mistake, an individual having the capacity to understand a written document, who signs that document without reading it, is bound by his signature. The court acknowledged that Lenex was the Beneficiary. The funds reached Lenex's account. The court reasoned that the disposition of those funds after they reached Lenex's account is not germane to this inquiry. FVBC had agreed only to transfer the funds to Amro. nder the contract, Masri had waived any claim against FVBC for nonperformance due to causes beyond FVBC's control. Plainly, the disbursement of the funds after they had reached Lenex's account was a factor beyond FVBC's control. Thus, the evidence is insufficient to establish that FVBC breached its contract with Masri.