Author Question: Sondra realized on Tuesday that she had dropped her bank EFT card after using it at an automatic ... (Read 53 times)

savannahhooper · **on:** Jun 24, 2018

Sondra realized on Tuesday that she had dropped her bank EFT card after using it at an automatic teller machine. She telephoned the bank on the following Monday to notify it of the loss. By that time, someone had used the card to withdraw 800 from Sondra's account. The bank said it would cover 300 of that amount. Sondra sued for the full amount, claiming that she had exercised reasonable care in reporting the loss, especially because the card was lost on bank premises. Will she be able to recover the full 800?

Question 2

The purpose of probate is:
A)To handle property distribution when there is no will.
B)To handle joint tenancy property.
C)To review life insurance distributions.
D)None of the above

dellikani2015 · **Reply #1 on:** Jun 24, 2018

Answer to Question 1

No. Sondra's liability for loss in this case can be up to 500, since she did not notify the issuer of the card within two (2 ) days after learning of the loss. A consumer who notifies the issuer of an EFT card within two (2 ) days after learning of a loss or theft of the card can be held liable to a maximum liability of 50 for unauthorized use of the card; however, failure to notify within this time will increase the consumer's liability for losses to a maximum of 500. Where she lost the card has no relevance in this case.

Answer to Question 2

D