Fact Pattern 19-3 Mike Loses His National Bank Access Card. He Realizes His

question 63

Multiple Choice

Fact Pattern 19-3
Mike loses his National Bank access card. He realizes his loss the next day but waits a week to call National. Meanwhile, Opal finds and uses Mike's card to withdraw $3,000 from Mike's account.
-Refer to Fact Pattern 19-3.When Mike receives his National statement,he 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 Mike's account (at least until the dispute is resolved).
• C) must investigate and immediately recredit Mike's account (at least until the dispute is resolved).
• D) must investigate but need not recredit Mike's account.

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Definitions:

Cash-Out Combinations

Financial arrangements, often in mergers and acquisitions, where shareholders receive cash instead of shares of the new or acquiring company.

Publicly Held Corporation

A corporation whose shares are publicly traded on a stock exchange, allowing for broad ownership by investors.

Dissenting Shareholders

Shareholders who do not agree with a corporate action and are allowed certain rights, such as selling their shares back to the company under specific conditions.

Damage Award

A monetary compensation ordered by a court to be paid to a person as reimbursement for harm or injury suffered.