Which of the Following Is True in Case of Death

question 3

Multiple Choice

Which of the following is true in case of death or incompetence of a customer?

• A)A bank cannot pay checks of a deceased customer until it has notice of the customer's death.
• B)If a bank knows of a customer's death,it can pay checks written by the customer prior to his/her death,for a period of 30 days.
• C)The deceased person's heirs or other persons claiming an interest in the account can order the bank to stop payment.
• D)A bank can declare checks signed by the customer while he/she was alive,as null and void.

---

Definitions:

Promissory Estoppel

A legal principle preventing a party from going back on a promise, which another party relied upon, even if there was no formal contract.

Consideration

In contract law, it is something of value exchanged by the parties involved in a contract, making the agreement legally binding.

Accord And Satisfaction

A legally binding agreement to settle a disputed claim for a definite amount.

Adequacy Of Consideration

The fairness of the value or price exchanged in a contract, though the law typically does not require consideration to be equal in value.