Question: National Commercial Bank issued a credit card to Mr. and Mrs. Eldridge. Mrs. Eldridge used the credit card to make a purchase at Malik's store and by mistake left the card at the store. Before Mrs. Eldridge could return for the card, it disappeared from Malik's possession and was used to make unauthorized purchases of over $3,000. Mr. and Mrs. Eldridge then assigned to the National Commercial Bank all claims that they had against Malik for negligence on the part of Malik in letting the card fall into someone else's hands. Malik claimed that because the Eldridges could be held liable for only $50 for unauthorized use of the credit card, the bank as assignee could also be held liable for only $50. Is Malik correct? (National Commercial Bank and Trust Co. v. Malik, N.Y. 72 Misc. 2d 865)