Business Law Ch 19

BMGT381 15 May 2011 Ch. 19 Self Study 1. What is a equalise? A lay off is a draft skeletal by a drawer establishing the drawee believe or financial institution to make a fixed amount of bills to the carrier on demand. 2. What are the primary ways in which commercial-grade curses serve their clients? The primary ways are the creditor-debtor kind, the effect relationship and the contractual relationship. 3. What is an overdraft? An overdraft is a ensure that is paid by the rely when the checking account on which the check is written contains light statement of descents to cover the check. 4. When does a check become dust-cover down the stairs the UCC? Banks are not obligated to pay an uncertified check presented more than six months from its date. 5. How long after the cobblers last of a client may a bank pay or certify checks? The death of a customer does not pilfer the check, the bank needs to be notified of the situation and has had a just amount of time to act on the notice. 6. Who has the responsibility to distinguish that payment on a check be halt? Only the customer or a soul reliable to draw on the account sens order the bank not to pay the check. 7. Who is apt(predicate) when a customers bank pays an altered check?

If the customer basin prove that the check was altered then the bank is liable for the payment. Even if the customer is at fault or negligent the bank can be liable for some of the loss if they failed to exercise indifferent care. 8. What role does the Federal Reserve placement play in clearing checks? They act as a clearinghouse, a agreement or a place where banks swap ch ecks and drafts drawn on each other and sett! le occasional balances. 9. What types of fiscal institutions are covered by the EFTA? They cover financial institutions that offer electronic fund transfers involving consumer accounts. 10. What types of commercial electronic fund transfers are covered by the EFTA? The EFTA covers financial institutions that offer electronic fund...If you want to blend a full essay, order it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay