Question: The bank acts as the customers principal when it collects checks or other negotiable instruments made payable to the customer. True/False

The bank acts as the customer’s principal when it collects checks or other negotiable instruments made payable to the customer. True/False

Step by Step Solution

★★★★★

3.53 Rating (170 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Business Law Today Questions!

Q:

One function of bank capital is to protect uninsured depositors, bondholders, and creditors in the event of insolvency and liquidation. True or False

Q:

We granted certiorari in this case to address an issue of first impression in Colorado regarding whether under [UCC] 1-201(b)(20) and [UCC] 3-302, C.R.S. (2007), Colorados codification of the...

Q:

At issue in this sequel to State of Qatar v. First American Bank of Virginia (Qatar I) is the meaning and legal significance of the phrase for deposit only following an indorsement on the back of a...

Q:

It is becoming widely expected that interest rates will rise in the coming year. In recent weeks the 10 year US bond has risen from about 1.50% to 1.80%. Using the appendix for chapter 2 on Webster...

Q:

Please solve the mutiple-choice questions in the word doc. INTRODUCTION: Commercial Paper & Agency Commercial Paper Commercial paper (under the category of negotiable instruments) is a document...

Q:

Please solve the mutiple-choice questions in the word doc. INTRODUCTION: Commercial Paper & Agency Commercial Paper Commercial paper (under the category of negotiable instruments) is a document...

Q:

WL goods are returned to the bailor. 2.EXPIRY OF TIME When the goods are bailed for a fixed time, the contract of bailment is terminated at the expiry of the time fixed. 3 Agency Agency is a special...

Q:

??? goods are returned to the bailor. 2.EXPIRY OF TIME When the goods are bailed for a fixed time, the contract of bailment is terminated at the expiry of the time fixed. 3 Agency Agency is a special...

Q:

Court of Appeals of Georgia. GERBER & GERBER, P.C. v. REGIONS BANK. Regions Bank v. Gerber & Gerber, P.C. Nos. A03A1952, A03A1953. Feb. 13, 2004. Reconsideration Denied March 3, 2004. Background:...

Q:

I have attached both the chapters from which you will be answering the following question. Ch 8 (p 387 of text or p 35 of the pdf) ?Exercise D. Prepare the bank reconciliation and any required...

Q:

A corporation that uses the equity method of accounting for its investment in a 40 % -owned investee that earned $ 20,000 and paid $ 5,000 in dividends made the following entries : Investment in...

Q:

Let f(x) = log x and n N. a) Find the Taylor polynomial Pn := pnf,1. b) Prove that if x [1, 2], then c) Find an n so large that Pn approximates log x on [1, 2] to three decimal places. | log x-pn...

Q:

Checks are mailed by check signer. Test of Controls for Control 3 :

Q:

134. Define and give three examples of an investment center.

Q:

What area of law other than tort law do product liability actions often involve? Why are actions in that area often more straightforward than in tort law?

Q:

Why was a duty of care owed in Livent?

Q:

Give an example of when the defence of volentinon fitinjuria might be applied.

Q:

True or false? In the primary equity markets the issuing company offers or sells shares directly, while the secondary markets provide participants with marketability and share valuaiton.

Q:

which one is correct? 3) (p1p3)(p4p3)0(p3p1)x(p2p1)

Q:

&&&&&&&&&&&&&&&&&&&7 Please help me &&&&&&&&&&&&&& &&&&&&&&&&&&&&&&&&& By using MIPS assembly code &&&&&&&& &&&&&&&&&&&&&&&&&&&&& Find the sum of integers from 1 to 2N-1 where N is a value that you...