Which of the following is true of a collecting bank?
A) A collecting bank is an agent of the owner of an item until settlement becomes final.
B) The relationship between a collecting bank and the owner of an item, once settled, becomes a debtor-creditor relationship.
C) A collecting bank may be a sub-agent of the owner until settlement becomes final.
D) All of the above.
E) None of the above.
Correct Answer:
Verified
Q33: Barry presents to Wake Bank for deposit
Q45: If you lose your wallet along with
Q48: Which of the following is true about
Q49: Helen deposits a $50 check in her
Q52: An objective of the Check 21 Act
Q56: If Ben Stewart has a checking account
Q56: A preauthorized electronic transfer from a consumer's
Q57: On April 6, Ellen sends a check
Q60: If Margie makes out a check for
Q61: What is the effect of a payor
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