bank statement rule

bank-statement rule. Commercial law. The principle that if a bank customer fails to examine a bank statement and any items returned with it, and report to the bank within a reasonable time any unauthorized payments because of a material alteration or forgery, the customer may be precluded from complaining about the alteration or forgery. UCC § 4-406. [Cases: Banks and Banking 148(3, 4), 174. C.J.S. Banks and Banking §§ 416, 419, 421–428, 430–432, 434–438.]

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词条贡献者

法律翻译Iris，毕业于一所旨在培养高级翻译专业人才的翻译院校，专注翻译各类与资本市场有关的法律文件。