Which of the following is true of a stop payment order?
A) It is valid for ten days if given by telephone.
B) It is valid for one year if given in writing.
C) A bank that accidentally pays a check in violation of a valid stop payment order inherits the rights of the customer against the payee and of the payee against the customer.
D) A holder or indorser may stop payment on a check.
Correct Answer:
Verified
Q8: Article 4 of the UCC governs bank
Q9: Nathan received his February checking account statement
Q10: Aaron deposits money in a checking account
Q11: Which of the following is true about
Q12: Twenty days after receiving her bank statement,Gwen
Q14: On December 18,Bob wrote his grandson a
Q15: The case Broxton-King v.LaSalle Bank,N.A.was about violation
Q16: If a bank pays a check despite
Q17: Zoe stole Buddy's ATM card.On September 4,Buddy
Q18: Check #1234 is received for collection by
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