Asked by
Sarina Singh
on Nov 28, 2024Verified
Ruiz writes a check drawn on his account at Security Bank and payable to the order of Twyla. The bank does not pay the check. Ruiz is
A) absolved of liability on the check.
B) liable to the payee for the amount of the check.
C) liable to the bank for the amount of the check.
D) entitled to payment of the amount of the check from the payee.
Drawn
Refers to the process of extracting or taking something from a particular source, such as money from an account.
Liable
Legally responsible or obligated, often in the context of paying damages or facing other legal consequences.
- Analyze the accountability factors of parties related to the issuance, handing over, and dishonor of negotiable documents.
Verified Answer
QM
Learning Objectives
- Analyze the accountability factors of parties related to the issuance, handing over, and dishonor of negotiable documents.
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