Stop- Payment Orders

question 80

Multiple Choice

Stop- payment orders:

• A) must be in writing in order to be effective.
• B) may be oral, but are effective for only fourteen days unless confirmed in writing within the fourteen- day period, in which case they will be effective for six months.
• C) are effective as long as the account remains open, if the order is in writing.
• D) are effective for six months, whether oral or in writing.
• E) are ineffective, unless the customer's account with the bank specifically allows such orders.

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