Fact Pattern 25-1Marlene Loses Her Neighborly Bank Access Card

question 62

Multiple Choice

Fact Pattern 25-1Marlene loses her Neighborly Bank access card. She realizes her loss the next day but waits a week to call the bank. Meanwhile, Odell finds and uses Marlene's card to withdraw $3,000 from Marlene's account.
-Refer to Fact Pattern 25-1.When Marlene receives her Neighborly Bank statement,she demands that the bank investigate the matter and recredit his account.The bank 

• A) ​has no duty to investigate. 
• B) ​must investigate and, if the dispute is not resolved within ten days, recredit Marlene's account (at least until the dispute is resolved). 
• C) ​must investigate and immediately recredit Marlene's account (at least until the dispute is resolved). 
• D) must investigate but need not recredit Marlene's account.

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Definitions:

Initial Purchase

The first acquisition of goods or assets for the purpose of business operations or investment.

F.O.B.

F.O.B. (Free on Board) is a shipping term used to indicate whether the seller or the buyer is liable for goods that are damaged or destroyed during shipping.

Free On Board

A shipping term indicating that the seller bears transportation costs to the shipping point, after which the buyer is responsible.

Freight Order Billing

The process of issuing invoices for the transportation services provided for shipping goods, based on agreed terms such as weight, distance, and type of goods.