A Bank That Fails to Detect an Alteration to Its

question 43

True/False

A bank that fails to detect an alteration to its customer's check is liable to the customer for the loss.

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Definitions:

Section 10(b)

A provision of the Securities Exchange Act of 1934 that prohibits manipulative and deceptive practices in the buying and selling of securities.

Trading Securities

Refers to a category of securities that a company buys and sells with the intent of making a profit over the short term.

Securities Act

The Securities Act, often referred to specifically as the Securities Act of 1933, is a U.S. law that regulates the sale of securities, primarily requiring issuers to disclose significant financial information to investors.

Household Products Corporation

A business organization that manufactures and sells goods utilized for domestic purposes, such as cleaning supplies, detergents, and personal care items.