Fri, Jun 17|
Altered Checks and Presumption of Alteration
Time & Location
Jun 17, 2022, 2:00 PM – 3:00 PM EDT
About the event
A depositary bank warrants in its UCC presentment warranty to the paying bank that the presented check is not altered. An altered check presented is a breach of warranty, and the BOFD is liable to the paying bank. When a paying bank and a BOFD have a dispute as to whether a presented check is altered, Regulation CC provides the Presumption of Alteration. What does it mean, and how does it affect a claim by a paying bank of the presentment of an altered check? This session will discuss the UCC presentment warranty, and Regulation CC’s Presumption of Alteration.