Multiple Choice
Which of the following is true of the drawer-drawee relationship?
A) The drawer becomes the creditor when the drawee bank pays more than the drawer has on deposit.
B) The drawer becomes a debtor and the drawee bank the creditor at the time of opening a checking account.
C) The drawer becomes the insured and the drawee bank the insurer at the time of opening a checking account.
D) The drawer becomes the creditor and the drawee bank the debtor at the time of opening an account.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: In case a check is altered so
Q11: Due to Susan Sharp's many fraudulent misstatements,Nelly
Q14: Wire transfer is used for transfer of
Q39: Banks can retain the legible copy of
Q44: The relationship between a depositor and a
Q44: Checks that are more than six months
Q45: What section of the UCC mandates that
Q53: Which of the following do a certified
Q58: Under the recent amendments to Article 4,postdated
Q68: Lakeland Bank certifies a check that subsequently