This legal document, part of the Pennsylvania Compiled Statutes, specifically falls under the Commercial Code and pertains to the collection of items by depositary and collecting banks. It outlines the conditions under which an item is considered finally paid by a payor bank, including payment in cash, settlement without the right to revoke, or failure to revoke a provisional settlement within the permitted time. The document also discusses when provisional debits and credits become final between presenting and payor banks, and the accountability of collecting banks to their customers upon final settlement.

This provision, part of the Pennsylvania Compiled Statutes under the Commercial Code, specifically addresses the return of items by payor banks. It outlines the conditions under which a payor bank can revoke a settlement and recover the settlement amount for a demand item. The payor bank can return the item or send written notice of dishonor or nonpayment if the item is unavailable for return. The provision also specifies the time limit and manner in which a payor bank can return a provisionally settled item, revoke any credit given, or recover the amount withdrawn by its customer.

This legal document governs the collection of items by payor banks. It specifies that any knowledge, notice, stop-payment order, legal process, or set-off received or exercised by a payor bank does not terminate, suspend, or modify the bank’s right or duty to pay an item or charge the customer’s account for the item. The document outlines the circumstances under which the bank’s actions are not affected, such as when the bank accepts or certifies the item, pays the item in cash, settles for the item without the right to revoke the settlement, becomes accountable for the amount of the item, or reaches the cutoff hour for checks.

This legal document, found in the Pennsylvania Compiled Statutes under the Commercial Code, specifically addresses the relationship between a payor bank and its customer. According to this document, a bank has the authority to charge against a customer’s account for items that are properly payable from that account, even if it creates an overdraft. An item is considered properly payable if it is authorized by the customer and complies with any agreement between the customer and the bank.

This legal document, part of the Pennsylvania Compiled Statutes, specifically addresses the relationship between a payor bank and its customer in the context of bank deposits and collections. It grants the customer or any authorized person the right to stop payment of any item drawn on the customer’s account or close the account by providing an order to the bank. The stop-payment order is effective for six months, but lapses after 14 calendar days if the original order was oral and not confirmed in writing.

A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than six months after its date, but it may charge the account of its customer for a payment made thereafter in good faith.

This legal document, part of the Pennsylvania Compiled Statutes, specifically addresses the relationship between a payor bank and its customer in the context of bank deposits and collections. It outlines the duties and responsibilities of both parties. The document states that when a bank sends or makes available a statement of account to a customer, it must either return the paid items or provide sufficient information in the statement to allow the customer to identify the items paid.

The provided legal document content pertains to lease contracts under the Pennsylvania Commercial Code. It establishes the applicability of this division to any transaction that creates a lease, regardless of form. The document provides definitions for various terms used in lease contracts, such as ‘buyer in ordinary course of business,’ ‘commercial unit,’ ‘conforming goods,’ ‘consumer lease,’ ‘fault,’ ‘finance lease,’ ‘goods,’ ’lease,’ ’lessee,’ ’lessor,’ and others. It clarifies that a lease subject to this division is also subject to any applicable certificate of title statute or consumer protection statute.

The provided legal document content pertains to the enforcement, liability, dishonor, and discharge of negotiable instruments in Pennsylvania. It covers various aspects related to the rights and obligations of parties involved in the creation, transfer, or enforcement of these instruments. The document defines the process of transfer and outlines the rights acquired by the transferee. It also addresses the right of the transferee to demand endorsement and the effect of transferring less than the entire instrument.

This legal document, known as the Uniform Commercial Code, Article 4, Bank Deposits and Collections, governs the handling of commercial paper and investment securities within the context of the Pennsylvania Commercial Code. It states that items within this division are subject to the provisions of Division 3 (relating to negotiable instruments) and Division 8 (relating to investment securities) if they fall within those divisions as well. The liability of a bank for action or nonaction with respect to an item handled by it for purposes of presentment, payment, or collection is governed by the law of the place where the bank or its branch/separate office is located.