Which of the Following Is True of a Collecting Bank

question 43

Multiple Choice

Which of the following is true of a collecting bank?

• A) A collecting bank is an agent of the owner of an item until settlement becomes final.
• B) The relationship between a collecting bank and the owner of an item, once settled, becomes a debtor-creditor relationship.
• C) A collecting bank may be a sub-agent of the owner until settlement becomes final.
• D) All of these are true.
• E) None of these are true.

Recognize the flexibility and possibility of change in academic plans.

Acknowledge that one's purpose and goals may evolve with new discoveries about oneself and one’s abilities.

Learn that proactive goal setting and planning are superior to merely reacting to circumstances.

Understand the role of goal relevancy and the process involved in achieving goals.

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Definitions:

Items of Value

Physical or intangible objects, rights, or services that hold financial worth, utility, or personal significance to someone.

Money Damages

A monetary reward granted by a judicial body to an individual who has endured damage or injury as a result of someone else's illegal behavior or carelessness.

Remedy at Law

Legal means through which a party can enforce a right or redress a wrong, typically involving monetary compensation or specific performance.

Equity

A branch of law that developed alongside common law in order to remedy situations where strict application of traditional legal principles would be unfair or unjust.