Which of the Following Is NOT a Duty of a Collecting

question 46

Multiple Choice

Which of the following is NOT a duty of a collecting bank in the collection process?

• A) Duty of care.
• B) Duty to act in a timely manner.
• C) Duty to honor a valid stop payment order.
• D) Duty to honor a restrictive endorsement.

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Definitions:

Probability

The measure of the likelihood that an event will occur, quantified as a number between 0 and 1.

Spontaneity

Acting on impulse rather than planning in advance, characterized by sudden and unplanned actions.

Professional Salespeople

Individuals who specialize in selling products or services, often using expert knowledge and skills to meet their customers' needs and achieve sales targets.

Rehearse

To practice or prepare beforehand, especially in the context of planning presentations or refining sales pitches.