Asked by Modasola Sholotan on Jul 09, 2024
Verified
The UCC requires banks to certify a check if a customer has sufficient funds in the account.
Certify
To officially declare or verify that something is true, accurate, or meets a specific standard.
UCC
Stands for the Uniform Commercial Code, which is a comprehensive set of laws governing commercial transactions in the United States, including sales, leases, negotiable instruments, and secured transactions.
Sufficient Funds
A term indicating that an account has enough available money to cover transactions such as withdrawals, checks, or payments.
- Recognize the procedural aspects and legal implications of postdating checks, stop payment orders, and check certification under the UCC.
Verified Answer
Learning Objectives
- Recognize the procedural aspects and legal implications of postdating checks, stop payment orders, and check certification under the UCC.
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