Asked by Abena Opoku on Jul 21, 2024
Verified
What section of the UCC mandates that a bank's signature must appear on a certified check?
A) 1-103
B) 3-409
C) 3-223
D) 6-105
UCC
This legislative compendium, known as the Uniform Commercial Code, sets the standards for all commercial transactions within the US borders.
Certified Check
A type of check for which the issuing bank guarantees the availability of funds by verifying the drawer's signature and setting aside the check amount.
Bank's Signature
An authorized signature from a bank representative, used to validate or authorize transactions and documents.
- Gain an understanding of the various attributes and meanings behind different kinds of checks, like stale, certified, cashier's, and teller's checks.
- Acquire knowledge on the legal frameworks and expectations for clients and banks as per the Uniform Commercial Code (UCC) addressing check alterations and forgeries.
Verified Answer
DM
Danielle MartellaJul 23, 2024
Final Answer :
B
Explanation :
Under section 3-409 of the UCC the bank's signature must appear on a certified check.
Learning Objectives
- Gain an understanding of the various attributes and meanings behind different kinds of checks, like stale, certified, cashier's, and teller's checks.
- Acquire knowledge on the legal frameworks and expectations for clients and banks as per the Uniform Commercial Code (UCC) addressing check alterations and forgeries.