In Situations Where the Bank Fails to Detect Forged Signatures

question 61

True/False

In situations where the bank fails to detect forged signatures and the customer does not immediately notice that the forged cheques have been cashed from its account,the courts will look to the bank-customer agreement to determine liability.If there is none,the common law rules apply.

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Definitions:

Safety Needs

Basic human requirements including protection from elements, security, order, law, stability, and freedom from fear.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, which must be fulfilled hierarchically.

Physiological Needs

The basic physical requirements for human survival, such as air, water, food, shelter, and sleep, which are the foundation of Maslow's hierarchy of needs.

Basic To Survival

Fundamental needs or activities that are essential for an entity's continued existence and prosperity.