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Unformatted text preview: sends the check to Citi bank (payor) and Mobin gets paid. 12.Checking agreement and Article 4 of UCC 13.Skip 14.If the customer dies, the bank may continue to pay checks for 10 days after it learns of the death, unless it receives a stop payment order from someone claiming an interest in the account. 15.Skip 16.If a bank pays a check that has been altered, the customer is liable only for the original terms of the check, and the bank is liable for the balance. The one exception is that the alteration is obvious the bank is liable for the full amount of the check because is should have known better than to pay it in the first place. 17.Skip 18.Notify the bank within 2 days and you will be liable for only the first $50 stolen. If you report it within 60 days you are liable for $500 and after 60 days you are liable for the full amount. The website is http://www.ftc.gov/bcp 19.skip...
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This note was uploaded on 02/05/2011 for the course BULE 402 taught by Professor Shubin during the Fall '10 term at George Mason.
- Fall '10