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Author Question: Explain the duties of a bank customer regarding checks drawn on the customer's ... (Read 150 times)

natalie2426

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on: Jun 24, 2018
Explain the duties of a bank customer regarding checks drawn on the customer's account.

Question 2

What duties does a bank owe its depositor/drawer?
 A) Pay every check presented to it.
 B) Compare the signature on the depositor's check with the signature on file.
 C) Enforce a stop payment order for up to ninety days.
 D)Refuse to pay any check which would cause an overdraft on the account.


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nikmaaacs

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Reply #1 on: Jun 24, 2018
Answer to Question 1

The customer must examine monthly bank statements reasonably promptly and notify the bank of any forged signatures. The UCC does not define reasonable promptness, but the agreement between the customer and bank likely sets a time of not less than thirty days and not more than one year.

Answer to Question 2

B


natalie2426

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

amcvicar

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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