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Question
Bob purchased a new washing machine from a local department store. He paid for the washing machine by check. Two days later, Bob discovered that the washing machine did not work. Bob telephoned the bank and issued an oral stop-payment order on the check. Which of the following will be true for an oral stop-payment order?
A. An oral stop-payment is not valid for more than 24 hours.
B. An oral stop-payment is valid for only 14 days unless Bob confirms it in writing during that time.
C. An oral stop-payment is not valid for more than 48 hours.
D. An oral stop-payment order is valid for 6 months and can be extended for another 6 months by giving the bank instructions to continue.
Answer
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