A Depositor Is Not Responsible or Liable to the Bank

question 70

True/False

A depositor is not responsible or liable to the bank for items deposited that are not honored when presented for payment.

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Definitions:

Feudalism

A medieval European social system characterized by the exchange of land for military service and labor, involving a hierarchy of lords, vassals, and serfs.

Storehouses

Large buildings or warehouses where goods are stored before they are distributed for sale or use.

Landlords

Individuals or entities that own and rent out property, such as buildings or land, to tenants.

Capitalist Economy

A capitalist economy is an economic system where private individuals and businesses own the production and distribution of goods and services, operating for profit in competitive markets.