Question

On Friday morning, Geoff deposits into his account at Heartland Bank a $500 check from Imelda, who also has an account at Heartland. On that same day, this check is considered

a. a provisional credit.

b. paid.

c. cashiered.

d. certified. Brady forges Cal’s signature on a check “payable to the order of Brady” drawn on Cal’s account in Downtown Bank. Cal’s forged signature is a. effective to the extent that the bank debits Cal’s account. b. not effective. c. effective to the degree that it matches Cal’s genuine signature. d. effective if an innocent third party accepts the check.

Answer 1

1. On Friday morning, Geoff deposits into his account at Heartland Bank a $500 check from Imelda, who also has an account at Heartland. On that same day, this check is considered

Answer: a. a provisional credit.

Provisional Credit -

In bank if someone deposit into your account some checks it will not get immidiatly credited into your account. Primarily bankers have to investigate the balance of the person's account who's checks are being deposited. For such investigation banker's make its temprary credit of the check deposit, but once they investigated with all the crireria like Account No., Availability of fund and signature and some important check list, it will get removed from the provisional credit.

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2. Brady forges Cal’s signature on a check “payable to the order of Brady” drawn on Cal’s account in Downtown Bank. Cal’s forged signature is

Answer: b not effective.