Which of the following holds true for the Uniform Commercial Code Article 4?
A) The effect of "pay any bank" indorsement means that the bank may not specially indorse the check to a person who is not a bank.
B) A depository bank may not supply any indorsement of the customer necessary to title if the check contains words such as "payee's indorsement required."
C) Under Section 4-212(1) , as long as the settlement is final, a collecting bank has the right to "charge-back" or refund if the check is dishonored.
D) If the settlement is provisional, the collecting bank cannot claim a refund.
E) The warranties given in the collection process cannot be disclaimed as to checks.
Correct Answer:
Verified
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