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True-False Questions If a bank pays a stale check in good faith without consulting...

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Accounting

True-False Questions
If a bank pays a stale check in good faith without consulting the customer, the bank cannot charge the customer's account.
If a bank receives an item payable from a customer's account in which there are insufficient funds, the bank cannot pay the item.
A bank in the collection chain must normally pass a check on before midnight of the next banking day following receipt.
The rights and duties of a bank and its customers are partly contractual.
All funds deposited in all bank accounts must be available for withdrawal no later than the next business day.
A forged drawer's signature on a check is as effective as the signature of the person whose name is signed.
If a bank fails to honor a customer's stop-payment order, it may be liable to the customer for more than amount of the loss suffered by the drawer because of the wrongful payment.
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