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Stop- Payment Orders

Question 80

Multiple Choice

Stop- payment orders:


A) must be in writing in order to be effective.
B) may be oral, but are effective for only fourteen days unless confirmed in writing within the fourteen- day period, in which case they will be effective for six months.
C) are effective as long as the account remains open, if the order is in writing.
D) are effective for six months, whether oral or in writing.
E) are ineffective, unless the customer's account with the bank specifically allows such orders.

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