Cengage Advantage Books: Fundamentals of Business Law 9th Edition by Roger LeRoy Miller

Exercise 15

Critical Thinking Legal Question Since the 1990 revision of Article 4, a bank is no longer required to include the customer's canceled checks when it sends monthly statements to the customer. A bank may simply itemize the checks (by number, date, and amount); it may provide photocopies of the checks as well but is not required to do so. What implications do the revised rules have for bank customers in terms of liability for unauthorized signatures and indorsements?