Asked by
Benjamin Reier
on Nov 28, 2024
Verified
The contractual rights and duties of the bank and the customer depend on the nature of the transaction.
Contractual Rights
Legal entitlements granted to individuals or entities based on the terms of a contract.
Duties Of The Bank
The legal and ethical obligations that a bank owes to its customers, including safeguarding deposits, providing secure transactions, and rendering accurate information.
- Discern the chance for banks and their clients to engage in contractual agreements concerning the division of risks stemming from forgery.
- Gain insight into the significance and outcomes when a bank certifies a check.
- Become familiar with the legal accountabilities banks face concerning orders to stop payments and subsequent shortage of funds.
Verified Answer
SM
Learning Objectives
- Discern the chance for banks and their clients to engage in contractual agreements concerning the division of risks stemming from forgery.
- Gain insight into the significance and outcomes when a bank certifies a check.
- Become familiar with the legal accountabilities banks face concerning orders to stop payments and subsequent shortage of funds.
Related questions
A Check May Fall Under Uniform Commercial Code Article 3 ...
If a Check Is Dishonored for Insufficient Funds, the Bank ...
Fewer Records Are Available with Electronic Banking to Prove or ...
The Death of a Customer Automatically Revokes a Bank's Authority ...
Payments Via Phones and Other Mobile Devices Represent the Most ...