Fact Pattern 27-2B

question 14

Multiple Choice

Fact Pattern 27-2B
Thom draws a check,on his account in State Bank in New York,payable to Digital Computers,Inc. ,in San Francisco.Digital deposits the check in its ac?count at First National Bank.First National deposits the check in the Federal Reserve Bank of San Francisco,which transfers it to the Federal Reserve Bank of New York.That Federal Reserve Bank sends the check to State Bank.
-Refer to Fact Pattern 27-2B.When Digital's bank received the check,it was required to pass it on

• A)before midnight of the next banking day.
• B)before midnight of the next day,whether or not it was a "banking" day.
• C)before noon of the next banking day.
• D)within five business days.

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Definitions:

Sympathy

Sympathy is the feeling of pity, compassion, or sorrow for the misfortunes or suffering of others.

Resentment

Persistent feelings of bitterness or ill will towards someone or something perceived as having caused harm or injustice.

Counter-Revenge

Actions or strategies designed to neutralize or respond to acts of revenge, aiming to de-escalate a conflict.

Revenge

A form of retaliation against someone for wrongs perceived by the avenger.