Under the Check Clearing for the 21st Century Act:
A)a new negotiable instrument, called an IRD, was created.
B)banks are required to accept checks in electronic form.
C)Both of the above.
D)None of the above.

Question

Quizplus · Accepted Answer

The Check Clearing for the 21st Century Act, also known as Check 21, created a new negotiable instrument called an Image Replacement Document (IRD), which allows banks to process checks electronically. However, it does not require banks to accept checks in electronic form.