Ed can write checks on his account at First City Bank. Gina steals the checks, forges Ed's signature, and cashes the checks at First City. The bank is excused from any liability if, after receipt of the first forged check, Ed fails to report the forgeries within
A) five days.
B) fourteen days.
C) one year.
D) three years.

Question

Quizplus · Accepted Answer

Under the Uniform Commercial Code (UCC), a bank customer must report any unauthorized signatures or alterations on their account statement within one year from the time the statement is made available to them. If they fail to do so, the bank is excused from liability for any subsequent forgeries.

Ed Can Write Checks on His Account at First City