What’s So Reasonable About Commercially Reasonable?
Usage of the term “commercially reasonable” goes beyond the Nacha Operating Rules. The phrase is used in the Uniform Commercial Code and has even been debated by the Supreme Court. But what is considered fair by one organization might not be by others. This course reviews examples of how commercially reasonable is used within the Nacha Operating Rules, particularly with regard to the new WEB verification requirements, as instructors and students discuss and debate their interpretation of commercially reasonable.