Which of the following is false regarding certified checks?
A) If a bank refuses to certify a check,the check lacks the extra protection of certification.
B) If a bank refuses to certify a check,the check is considered dishonored.
C) If a bank certifies a check,the bank has become primarily liable for the check.
D) If a bank certifies a check,the drawer of the check is no longer liable for the amount of the check.
E) Once a check is certified,funds of the customer are removed from his or her account and placed in the bank's certified check account.
Correct Answer:
Verified
Q20: A written stop-payment order is valid for
Q21: The Federal Reserve System consists of _
Q22: A[n] _ is an institution created to
Q23: The _ bank is ultimately responsible for
Q24: In which of the following types of
Q26: Which statement is correct regarding entities considered
Q27: The bank upon which a check is
Q28: A check that is drawn by one
Q29: Which of the following is a bank
Q30: The first bank that receives the check
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