Asked by
Donny Sulastiawan
on Nov 28, 2024
Verified
The death of a customer automatically revokes a bank's authority to accept, pay, or collect an item drawn by the customer on an account with the bank.
Death Of A Customer
Refers to the situation where a business loses a customer due to their passing away, which can have financial and operational impacts.
Authority To Accept
The legal power or permission given to an individual or entity to agree to the terms of a contract on behalf of another.
- Comprehend the financial relationship of debt and credit that exists between banks and their customers when a deposit is made.
- Comprehend the duties of financial institutions in the payment or denial of checks based on the date they are presented.
Verified Answer
CW
Learning Objectives
- Comprehend the financial relationship of debt and credit that exists between banks and their customers when a deposit is made.
- Comprehend the duties of financial institutions in the payment or denial of checks based on the date they are presented.