Assuming the Bank Is Not Negligent, in the Case of Multiple

question 78

Multiple Choice

Assuming the bank is not negligent, in the case of multiple forgeries by the same wrongdoer, what is the effect of a customer's failure to notify the bank of the first forgery in regard to subsequent forgeries?

• A) There is no effect because each forgery stands on its own.
• B) The customer is barred from recovering on the subsequent forgeries.
• C) The customer may recover on a subsequent forgery if it is reported to the bank within 5 days after the statement showing the subsequent forgery is received by the customer.
• D) The customer may recover on a subsequent forgery if it is reported to the bank within 10 days after the statement showing the subsequent forgery is received by the customer.
• E) The customer may recover on a subsequent forgery if it is reported to the bank within 15 days after the statement showing the subsequent forgery is received by the customer.

---

Definitions:

Market Segments

Subsets of a market composed of individuals or organizations with similar characteristics, needs, or behaviors that a business targets as part of its marketing efforts.

Positioning Strategy

A marketing approach that aims to establish a brand or product in the mind of the target audience in comparison to competitors.

Marketing Mix

A foundational model in marketing representing the basic elements that can be controlled to appeal to customers, traditionally defined as product, price, place, and promotion.

Market Segment

A group of consumers who respond similarly to a firm’s marketing efforts.