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Kenny logs onto Sophie’s bank account using Sophie’s password and without her permission. He transfers a sum of money to account into his own account. The security systrm used by the bank was commercially reasonable
Under the UNCITRAL Model Law on International Credit Transfers, which TWO of the following are correct? to whether or not the bank must reimburse Sophie?
1.It need not reimburse her because it is entitled to assume that Kenny had the password due to her fault
2.It must remburse her if she can establish that the bank did not follow the correct procedure
3.It must remburse her she signs a declaration that she did not give the password to Kenny
4. It must remburse her unless it can establish that she gave the password to Kenny
I can see 1 and 4 being reasonable but I think 2 and 4 would be a better choice
What does the ‘official’ answer say?