All of the following statements is incorrect concerning stale checks except: ______.
A) A check is stale when dated more than six (6) months before presentation to the bank.
B) Banks are required to pay stale checks unless a stop payment order has been issued.
C) Banks can pay in good faith after three (3) months.
D) Stale checks do not have to be verified with the bank's customer.
Correct Answer:
Verified
Q33: The Electronic Fund Transfers Act (EFTA) covers
Q34: A bank must be given a reasonable
Q35: A debit transaction occurs when a person
Q36: In a complex funds transfer, an intermediary
Q37: The "preclusion rule" prevents or precludes the
Q39: A bank always is liable to the
Q40: Banks are liable for losses on counterfeit
Q41: A forged indorsement must be reported within:
A)
Q42: Sondra realized on Tuesday that she had
Q43: The EFTA is concerned with the:
A) elimination
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