OnMondayBobdepositsintohisaccountatCityBanka500checkfrom

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Anderson's Business Law and the Legal Environment, Comprehensive Volume
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Chapter 30 / Exercise 7
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26. On Monday, Bob deposits into his account at City Bank a $500 check from  Dina, who also has an account at City Bank. On that same day, this check  is considered a. cashiered. b. certified. c. paid. d. provisionally credited. ANSWER: D PAGE: 579 TYPE: N
MISC: AACSB Reflective Skill Level: AICPA Legal
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Anderson's Business Law and the Legal Environment, Comprehensive Volume
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Chapter 30 / Exercise 7
Anderson's Business Law and the Legal Environment, Comprehensive Volume
Jennings/Twomey
Expert Verified
84 UNIT FOUR: NEGOTIABLE INSTRUMENTS Fact Pattern 21-4 (Questions 27 and 28 apply) Brad deposits a check in his City Bank account. County Credit Union (CCU), the  item’s drawee institution, dishonors the item and encodes it for return. Because  the encoding is in error, the physical check does not get back to City Bank for ten  days. Brad suffers a loss from the dishonor of the check, which is part of a  fraudulent scheme on the part of Dora. 27. Refer to Fact Pattern 21-4. As pointed out by the court in Case 20.3,  NBT  Bank, N.A. v. First National Community Bank , encoding provisions PAGE: 585 TYPE: =
MISC: AACSB Reflective Skill Level: AICPA Legal 28. Refer to Fact Pattern 21-4. City Bank files a suit against CCU to recover  the amount of the dishonored check. Under the decision in Case 20.3,  NBT  Bank, N.A. v. First National Community Bank , the court is most likely to  rule that PAGE: 585 TYPE: =
MISC: AACSB Reflective Skill Level: AICPA Legal 29. Bob’s debit card, issued by City Bank, is stolen and used without Bob’s  permission. Bob tells City Bank within a day and a half. Bob may be re- quired to pay no more than
CHAPTER 21: CHECKS AND BANKING IN THE DIGITAL AGE 85 PAGE: 588 TYPE: N
MISC: AACSB Reflective Skill Level: AICPA Legal

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