Business Law Ch 19

BMGT381 15 May 2011 Ch. 19 Self Study 1. What is a gibe? A memorize is a draft bunchn by a drawer establishing the drawee verify or monetary mental institution to make a pertinacious bar of bills to the holder on demand. 2. What ar the primary ways in which commercial posits see their clients? The primary ways be the creditor-debtor relationship, the effect relationship and the contractual relationship. 3. What is an overdraft? An overdraft is a check that is remunerative by the lingo when the checking grievance on which the check is write contains light line of descents to speak the check. 4. When does a check compel dust-cover under the UCC? Banks are non obligated to establish an uncertified check presented more than six months from its date. 5. How long afterward the cobblers last of a guest may a bank pay or back checks? The death of a client does not revoke the check, the bank needs to be notified of the bureau and has had a reasonable amount of time to act on the notice. 6. Who has the responsibility to order that requital on a check be stopped? solo the guest or a soul authorized to draw on the account git order the bank not to pay the check. 7. Who is apt(predicate) when a customers bank pays an alter check?

If the customer so-and-so prove that the check was change then the bank is likely for the payment. Even if the customer is at fault or heedless the bank can be liable for some of the dismissal if they failed to exercise ordinary care. 8. What employment does the Federal Reserve positioning play in modify checks? They act as a clearinghouse, a system or a place where banks swop checks and drafts drawn on severally other and settle free-and-easy balances. 9. What types of fiscal institutions are covered by the EFTA? They cover fiscal institutions that offer electronic store transfers involving consumer accounts. 10. What types of commercial electronic farm animal transfers are covered by the EFTA? The EFTA covers financial institutions that offer electronic fund...If you want to get a full essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper