For Improper Execution or Failure to Execute Payment Orders, Banks

question 13

Multiple Choice

For improper execution or failure to execute payment orders, banks can be liable to:

• A) the originators for their expenses in the transaction along with incidental expenses and interest losses.
• B) the beneficiaries for their incidental expenses.
• C) the originators for consequential damages.
• D) both the originators and beneficiaries for consequential damages, even though the written agreement of the receiving bank does not provide for it.

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Definitions:

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

Commerce Department

A department within a government responsible for regulating, promoting, and facilitating trade and commerce activities.

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, often used as an indicator of inflation.

CPI

Stands for Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.