Revised Article 3 Recognizes the Modern Bank Practice of Retaining

question 21

True/False

Revised Article 3 recognizes the modern bank practice of retaining checks,and permits the bank to supply only a statement showing the item number,amount,and date of payment.

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Definitions:

Judicial Decrees

Official orders issued by a court of law that mandate the legal obligations of the parties involved.

Public Policy

Fundamental principles or norms that guide legislative, judicial, and administrative actions for the welfare and protection of the community.

Outer Space Treaty

An international agreement that forms the framework for national space law, prohibiting the placement of nuclear weapons in space and limiting the use of celestial bodies to peaceful purposes.

Principle of Comity

A doctrine in international law where countries mutually recognize and enforce each other's laws and judicial decisions out of respect, rather than obligation.