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WRONGFUL DISHONOR - Exhibit 29-7 Who is Responsible for the Check? When a customer opens a checking account, both the customer and the bank accept
WRONGFUL DISHONOR - Exhibit 29-7 Who is Responsible for the Check? When a customer opens a checking account, both the customer and the bank accept certain duties and rights. Generally, the customer assumes a duty to keep sufficient funds in his or her account to cover the checks written on his or her account. If the customer does not have enough funds to cover a check, the bank will dishonor the check and the customer becomes liable for the amount of the check. Students need to read Exhibit 29-7 - Who Is Responsible for the Check? and answer the following questions: 1. List the times that the Bank is responsible for the check. 2. List the times according to Exhibit 29-7, the customer is liable for the check
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