Common use of Conflicting Demands/Disputes Clause in Contracts

Conflicting Demands/Disputes. If there is any uncertainty regarding the ownership of an account or its funds, there are conflicting demands over its ownership or control, we are unable to determine a person’s authority to give us instructions regarding the account, we are requested by law enforcement or any similar governmental agency to freeze the account or reject a transaction or we believe a transaction may be fraudulent or may violate any law, we may in our sole discretion: (1) freeze the account and refuse transactions until we receive written proof, in form and substance satisfactory to us, of each person’s right and authority over the account and its funds;