A Person Authorized to Write Checks Drawn on a Checking

question 152

Multiple Choice

A person authorized to write checks drawn on a checking account at a bank must sign and have on file with the bank a

• A) signature card
• B) deposit ticket
• C) checkbook
• D) bank card

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Definitions:

Reliance Damages

Compensation awarded for losses suffered due to reasonable reliance on a promise or agreement that was later breached.

Breached Contract

An occurrence when one or more parties involved in a contractual agreement fails to fulfill their obligation as outlined in the contract.

Uniform Commercial Code

A set of laws that provide uniform regulations for commercial transactions across the United States.

Lawsuit

is a legal action by one party against another in a court of law, typically to seek redress for a wrong.