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Chapter 29 DQ

Chapter 29 DQ

Q Explain the relationship between a payor bank and its customers. Explain wholesale fund transfers and discuss how they operate.

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Normally, the relationship amid a payor bank and its checking does account the customers is basically a form of product that is a part of the contractual arrangement. A payor bank usually does not genuinely proclaim over the responsibility for the inadequacy of good faith. Also, the disclaiming responsibility for its failure to exercise certain ordinary cares. Even the bank does restrict its scale of damages for making a breach that do comprise of the lack of failure.