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Unauthorized Payment Transactions And Who Should Bear The Losses, Francis J. Facciolo
Unauthorized Payment Transactions And Who Should Bear The Losses, Francis J. Facciolo
Chicago-Kent Law Review
This article is concerned with how losses should be allocated between holders of accounts that are implicated in payment systems and the financial institutions that participate in the payment systems by acting as intermediaries between ac- count holders. The rules involving payment systems show a wide range of divergent approaches. In the period before a transaction is executed, some payment systems take the possible negligence of an account holder into account in allocating losses for unauthorized payment transactions. The checking system is the classic case. In contrast, the Truth-in-Lending Act and the Electronic Fund Transfer Act both ignore the negligence …
Table Of Contents - Issue 2, Chicago-Kent Law Review
Table Of Contents - Issue 2, Chicago-Kent Law Review
Chicago-Kent Law Review
No abstract provided.