Which of the following is false regarding checks?
A) Because of electronic fund transfers, checks are of little importance in the U.S. today.
B) In 2009, Americans wrote billions of checks.
C) Of all the negotiable instruments regulated by the UCC, checks are the most common type used.
D) Checks are considered negotiable instruments under Article 3 of the UCC.
E) Article 4 creates a framework controlling deposit and checking agreements between banks and customers; and when Articles 3 and 4 conflict, Article 4 is to take precedence.
Correct Answer:
Verified
Q3: According to the UCC,a check is a
Q4: Which of the following governs the transfer
Q4: A bank involved in the check collection
Q5: A substitute check is a check that
Q6: A[n] _ is a special draft that
Q10: The UCC states that a customer can
Q10: Which of the following is the party
Q12: Banks are required by the UCC to
Q13: The Federal Reserve has stated that Regulation
Q20: A written stop-payment order is valid for
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