If a Bank Fails to Detect an Alteration on a Customer's

question 37

True/False

If a bank fails to detect an alteration on a customer's check,it is liable to its customer for the loss.

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Definitions:

Market Price

The immediate market rate for purchasing or selling an asset or service.

Rights Offering

A method by which a company raises capital by giving its existing shareholders the right to purchase additional shares at a discounted price before the stock is offered to the public.

Subscription Price

The price at which existing shareholders or subscribers can purchase new shares of a company during a rights offering before it is offered to the public.

Market Price

The present market rate for trading an asset or service.