What will be the result in given condition

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Reference no: EM131387008

Assume that Davis draws a check on Dallas Bank, payable to the order of Perkins; that Perkins indorses it to Cooper; that Cooper deposits it to her account in Houston Bank; that Houston Bank presents it to Dallas Bank, the drawee; and that Dallas Bank dishonors it because of insufficient funds.

Houston Bank receives notification of the dishonor on Monday but, because of an interruption of communication facilities, fails to notify Cooper until Wednesday. What will be the result?

Reference no: EM131387008

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