UCC Article 4A is designed to provide a statutory framework for electronic funds transfers by individual consumers.

Question

Quizplus · Accepted Answer

UCC Article 4A is actually designed to establish rules and procedures for electronic funds transfers (EFT) between banks and businesses, not individual consumers. It primarily applies to large commercial transactions and provides guidelines for the rights and obligations of parties involved in EFT transactions.

UCC Article 4A Is Designed to Provide a Statutory Framework