Which of the Following Holds True in Case of a Substitute

question 2

Multiple Choice

Which of the following holds true in case of a substitute check?

• A) A substitute check is an electronic reproduction of the original check which is suitable for automated processing in the same manner as the original check.
• B) Only the Federal Reserve can provide substitute checks in place of the original checks in the check processing stream.
• C) In the check collection process it is not required that the image be converted to a substitute check; the electronic image itself suffice.
• D) The Check 21 Act replaces existing state laws regarding the substitute checks.
• E) The Uniform Commercial Code doesn't apply to a transaction dealing with substitute checks.

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