Cheque account holders owe common law duties to their financial institutions.Which of the following statement(s) is/are true regarding these duties?
A) They must draw cheques carefully so they are not easily altered or forged and advise the bank of any known forgeries.
B) They must check periodic bank statements and notify the bank of any unauthorised debts.
C) They must take all reasonable steps to prevent forged cheques being presented for payment e.g.,by not leaving a cheque book where it could easily be stolen.
D) They must strike out the words 'or bearer' on a cheque and cross the cheque 'not negotiable'.
E) They owe all of the above duties
Correct Answer:
Verified
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