Question 1

List the electronic options offered by banks to their customers that were noted in the text.

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Question 2

Describe the various models for electronic cashless transactions.

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Question 3

What is the central purposes of the federal Bank Act?

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Question 4

Describe the essence of the requirements that must be present for an instrument to become negotiable without the need to investigate its validity through reference to circumstances of the instrument's creation or to other documents.

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Question 5

The acceptance of cheques for payment creates risk for the businesses that accepts them.The use of cheques for payment also creates risks for businesses paying for services or supplies.What are these risks?

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Question 6

Discuss the various aspects of the evolution of credit cards.

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Question 7

In the case of SNS Industrial Products Limited v.Bank of Montreal,2010 ONCA 500,the Ontario Court of Appeal the bank failed to detect a forged signature on cheques drawn on a client's account,with the result that $186 488 was fraudulently taken from its customer's account over a three-year period.Who was responsible for detecting the forgeries,the customer or the bank,and why?

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Question 8

Explain the distinction between an assignment of contractual rights and a negotiable instrument.

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Question 9

Discuss the purpose of the banking agreement.

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Question 10

What are the implications of accepting a cheque for payment?

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Quiz 25: Business and Banking