If a Check Is Not Honored, the Bank Is Liable

question 66

True/False

If a check is not honored, the bank is liable to the payee or to the holder in a civil suit.

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Definitions:

Formal Operations

A stage in Piaget's theory of cognitive development (beginning around age 12) where individuals develop the ability to think about abstract concepts and logically test hypotheses.

Deferred Imitation

A cognitive ability where an individual can replicate an action or behavior after a delay or pause, indicating memory and understanding.

Symbolic-Function

Symbolic function is a cognitive development concept whereby children acquire the ability to mentally represent and think about objects and events that are not physically present through symbols or language.

Centration

A cognitive limitation in young children's thinking, where they can only focus on one aspect of a situation at a time.