When the bank collects or attempts to collect checks made payable to the customer, it acts as the customer's agent.
Correct Answer:
Verified
Q3: A business receiving money by electronic transfer
Q6: An intermediary bank is the first bank
Q7: The Electronic Fund Transfer Act applies to
Q8: Under the Check 21 Act, bank customers
Q9: A written stop payment order is effective
Q12: A bank becomes a creditor when money
Q13: The day grandpa died, he mailed a
Q14: Ivan receives his June 2015 Friendly Bank
Q15: Cindy's liability for the unauthorized use of
Q16: Janice and her daughter have a joint
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