If a Checking Account Customer Fails to Report a Series

question 56

True/False

If a checking account customer fails to report a series of forgeries or alterations by the same wrongdoer on the same account within 30 days from receiving the monthly statement of account, then the bank is discharged from liability on all similar forged or altered checks after that date and prior to notification.

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Definitions:

Behavioral Approach

A perspective in negotiation that focuses on understanding the influence of parties' behaviors, emotions, and psychological states on the negotiation process.

Disadvantage

A disadvantage is a condition or situation that puts someone or something at a less favorable position compared to others.

High Self-monitors

Individuals who are highly aware of their own behavior and the social context, adjusting their actions and presentation to suit different situations.

Low Self-monitors

refers to individuals who consistently exhibit their true thoughts, feelings, and behaviors regardless of the social context, displaying less adaptation to social cues.