Which of the following is false regarding checks?
A) In 2009,Americans wrote approximately 70 billion checks.
B) 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.
C) Checks are considered negotiable instruments under Article 3 of the UCC.
D) Because of electronic fund transfers,checks are of little importance in the U.S.today.
E) Of all the negotiable instruments regulated by the UCC,checks are the most common type used.
Correct Answer:
Verified
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