This section contains the nature of the case and procedural background.

P is a collection agency whose assignor is the Bank of California. Ds are former checking account customers of the Bank. In November 1988, D drew a check in the sum of $11,856 on their account. The Bank honored the check but failed to debit D's account. In August 1989, the Bank discovered the error and sought repayment of the sum. D, who had closed their account in July 1989, refused to reimburse the Bank. The Bank, through its assignee P, filed suit in May 1992. D asserted a statute of limitations defense. The trial court ruled that the three-year statute of limitations under section 338(d) applied, and entered judgment for respondent for $11,856 in damages, plus interest and costs. This appeal resulted.

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