What is the effect of a payor bank's dishonor of a check?
A) The provisional credits must be reversed.
B) It returns the check.
C) The customer who deposited the item for collection must cover the item and seek recovery from the drawer or indorsers.
D) All of these will occur.
Correct Answer:
Verified
Q42: A check is drawn on Jones Bank
Q55: What are a payor bank's rights to
Q56: Helen deposits a $50 check in her
Q57: Which of the following is true with
Q59: Which of the following is true about
Q60: A system for electronic funds transfers (EFT)
Q61: Mary receives her monthly bank statement on
Q62: What is electronic funds transfer? Why do
Q62: Theresa has just started working for Citizens
Q64: Emma calls her bank to issue an
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents