Fact Pattern 25-1 (Questions 17 and 18 apply)
Echo takes her car to Fix-It,Inc.,which repairs the car and bills Echo for $500.Echo writes out a check drawn on Capital Bank,but later,believing that Fix-It did not repair the car properly,issues a stop-payment order.
-Refer to Fact Pattern 25-1.Capital Bank
A) is liable to Fix-It for the amount of the check.
B) must stop payment if Capital has a reasonable time to act.
C) need not stop payment unless Echo had a valid reason to act.
D) need not follow Echo's order unless the check was certified.
Correct Answer:
Verified
Q4: A bank that pays a customer's check
Q23: Ian buys a cell phone in Jiffy
Q40: A forged indorsement does NOT transfer title.
Q41: Fact Pattern 25-1 (Questions 17 and 18
Q45: Ellen pays State Bank $500 plus a
Q45: Elton presents an uncertified check for payment
Q46: Julia opens a checking account with Washington
Q47: Brendan signs a check "pay to the
Q47: A bank must be able to provide
Q66: Dru signs a check "pay to the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents