For this assignment, you will consider the nature of consumer (as opposed to commercial) fund transfers.

By successfully completing this assignment, you will demonstrate your proficiency in the following course competencies and assignment criteria:

  • Competency 1: Explain how the Uniform Commercial Code governs commercial transactions.
    • Define the types of checks and drafts regulated by the UCC.
    • Explain the liability of a bank to its customers, under the provisions of the UCC, with regard to consumer fund transfers.
    • Explain the responsibilities of bank customers, under the provisions of the UCC, with regard to consumer fund transfers.
    • Determine the liability of a bank for reimbursement of unauthorized fund transfers, under the provisions of the UCC.
  • Competency 6: Communicate professionally, according to the expectations of the field of accounting.
    • Express main points, arguments, concepts, and information coherently and logically.

Assignment Instructions

Analyze Business Case 28-4, “Forged Drawers’ Signature,” located on page 534 of your textbook. Prepare a professional-caliber brief on the case.

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Based on the case information provided:

  • State the facts of the case and the key issues.
  • Cite the code or statute provisions applicable to the case.
  • Determine whether the bank is liable to its customer in this case, and explain your reasoning. If the bank is liable, what is the amount of liability?
  • Express your main points, arguments, concepts, and information coherently and logically.

To support your brief:

  • Define the types of checks and drafts regulated by the UCC.
  • Explain the liability of a bank to its customers, under the provisions of the UCC, with regard to consumer fund transfers.
  • Explain the responsibilities of bank customers, under the provisions of the UCC, with regard to consumer fund transfers.

Additional Requirements

  • Cover page: Include your name, the assignment number, and the assignment or case title.
  • Length: 1–2 double-spaced pages, not including the cover page.
  • Font and font size: Times New Roman, 12-point.
  • APA formatting: Format resources and citations according to current APA guidelines.
 
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