Harvey Issued a Check to AgribizCo And, After Mailing the Check

question 1

Multiple Choice

Harvey issued a check to AgribizCo and, after mailing the check, suffered a heart attack and died. In the regular course of business, the bank paid the check when presented by AgribizCo for payment, despite the fact that the bank had received notice fourteen (14) days earlier of Harvey's death. In terms of the bank's payment of the check

• A) the bank is not liable because the payment was made within 20 days of the notification of the death.
• B) the bank is potentially liable to Harvey's estate.
• C) the bank is not liable unless the Harvey's executor posted an indemnity bond.
• D) the bank's authority to act for Harvey ended on his death, regardless of whether the bank had been notified of Harvey's death.

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