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Commerce · Q827

Banking and Financial Institutions

Graduate and Post Graduate · Commerce · question 827

Q827

Legal heirs of a deceased customer approaches the bank with a copy of the Will left by the deceased and request for payment of the deposit standing in the name of the deceased depositor. Bank should

A.
obtain a probated Will and pay the amount to the legal heir
Answer
B.
obtain the Will and pay the amount to the legal heir
C.
both A and B
D.
None of the above

Answer: Option A

Solution

Answer: Option A
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