Homer can write checks on his account at InterCity Bank. Jemma steals the checks, forges Homer's signature, and cashes the checks at InterCity. The bank is excused from any liability if, after receipt of the bank statement following the first forged check, Homer fails to report the forgery within
A)fourteen days.
B)thirty days.
C)six days.
D)six months.

Question

Quizplus · Accepted Answer

Under the Uniform Commercial Code (UCC), a customer must report any unauthorized signatures or alterations to their bank within 30 days of receiving the bank statement that includes the first forged check. If the customer fails to do so, the bank is typically excused from liability for subsequent forgeries by the same wrongdoer.

Homer Can Write Checks on His Account at InterCity Bank