Asked by
Chester Atkinson
on Dec 20, 2024Verified
Under Revised Article 4, if a bank pays a postdated instrument prior to its date, it will be a proper debit to the drawer's account, unless the drawer had timely informed the drawee that the check was postdated.
Revised Article 4
An update or amendment to a section of the Uniform Commercial Code dealing primarily with bank deposits and collections.
Postdated Instrument
A financial instrument, such as a check, with a date in the future, indicating when it becomes payable.
- Determine the legal system controlling check transactions, highlighting the duties and privileges of the involved parties.
Verified Answer
AA
Learning Objectives
- Determine the legal system controlling check transactions, highlighting the duties and privileges of the involved parties.