If a bank pays a check that bears a forged signature of the drawer,the transaction will be treated as one in which:
A) the bank paid out of the depositor's funds under Article 3 of the Uniform Commercial Code.
B) the bank paid out of its own funds under Article 3 of the Uniform Commercial Code.
C) the bank paid out of its own funds under Article 4 of the Uniform Commercial Code.
D) the bank paid out of the depositor's funds under Article 4 of the Uniform Commercial Code.
Correct Answer:
Verified
Q28: Bob purchased a new washing machine from
Q30: The Electronic Funds Transfer Act (EFTA)now addresses
Q31: Which of the following is true of
Q32: Walt draws a check for $1,500 on
Q34: A check on which a bank is
Q35: Callie drew a check payable to the
Q36: Under Revised Article 3,when multiple forgeries are
Q37: If a bank pays a check after
Q38: Bill purchased a new car from Friendly
Q39: A bank that knows of a customer's
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