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51.
(p. 650)
If a customer's ATM card is lost or stolen, the customer must notify the bank within _____
and if that is done, the customer is then liable for only the first _____ stolen.
52.
(p. 650)
Bill did not keep a close watch on his ATM card. He discovered, however, when he
started to purchase some presents for his girlfriend that it was missing. Unfortunately, over
$1,000 had been fraudulent purchased using the card by the time he reported it missing. The first
fraudulent charge was made 45 days before Bill reported to his bank that the card was missing.
Bill is liable for which of the following?
53.
(p. 647)
Which of the following was the result on appeal in
Merisier
v. Bank of America
, the case
in the text in which the plaintiff sued challenging the bank's determination that based on her
involvement, she was not entitled to funds obtained through alleged fraudulent use of her debit
card?
54.
(p. 651)
Which of the following would be stored electronically on microchips, magnetic strips, or
other computer media and would allow for the elimination of physical currency?
55.
(p. 652)
Which of the following is a card containing microchips for storing data that can be used
to transfer funds?
56.
(p. 652)
Which of the following is the period between the time a check is written and the time it is
presented for final payment, during which time a customer can still use his or her funds?
57.
(p. 642)
Which of the following is true regarding Trevor's statement that the bank's only choice
was to dishonor the check?
58.
(p. 642)
Which of the following is true regarding what a bank may do to offer overdraft protection
to customers?
59.
(p. 642)
Which of the following is true regarding Trevor's statement that once the check had been
dishonored, it could not be presented again?
60.
(p. 643)
Which of the following is correct regarding the manager's statement that stop-payment
orders may not be oral?
61.
(p. 642)
Which of the following is true regarding the bank manager's statement that the bank
could not incur any liability for damages for the failure to stop payment on a check?
62.
(p. 642)
Which of the following is true regarding the bank manager's statement that the bank was
a holder in due course, and that stop-payment orders could not affect the right of a holder in due
course to collect?
63.
(p. 646)
Which of the following is correct regarding whether the bank will legally have to accept
responsibility for the check presented by Renee?
64.
(p. 646)
Which of the following is true regarding whether Harold will have to bear the loss on the
first forged check by Susie?
65.
(p. 646)
Which of the following is true regarding whether Harold will have to bear the loss on the
later forgeries, other than the first one, by Susie?
66.
(p. 632)
Set forth the characteristics that a traveler's check must have.
67.
(p. 635-636)
Bruce buys a used car from Tony for $5,000. The car is in great shape and Bruce
leaves town in it. Bruce paid Tony with a cashier's check, but decided that he would rather not
pay at all. Accordingly, he told the bank the check was stolen. What rights, if any, would Tony
have and what liabilities and other problems, if any, would Bruce have?
68.
(p. 653)
As set forth in the text, what does the Financial Services Modernization Act, also known
as the Gramm-Leach Bliley Act provide regarding financial institutions and customer privacy?
69.
(p. 638-639)
Set forth the requirements for a check to be considered properly payable.
70.
(p. 643)
What items should a stop payment order list?
