Homework Answers
Answer : Nero and Olive only
as
both has signed the check so the Nero and Olive are covered under secondary liability hence the answer is Nero and Olive only
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QUESTION 48 Nero siens a check pay to the order of Olive drawn on Nero's account...
Brendan signs a check “pay to the order of City College Bookstore” drawn on his account...
Brendan signs a check “pay to the order of City College Bookstore” drawn on his account in Delta Bank to pay for his current semester’s textbooks. The bookstore deposits the check in its account in Eagle Bank. The check is a. a type of draft. b. a nonnegotiable instrument. c. a one-party instrument. d. not a substitute for cash.
Lisa writes a check on her account at Metro Bank to Niklas to pay a debt....
Lisa writes a check on her account at Metro Bank to Niklas to pay a debt. Niklas negotiates the check by indorsement to O’Leary, who presents it for payment to Prime Bank. If Prime Bank dishonors the check, O’Leary can obtain payment from Niklas: .a under no circumstances. b. only to the extent that Lisa overpaid her debt to Niklas. c. only if Lisa refuses to pay the check. d. if O’Leary timely notifies Niklas.
26–1. Indorsements. A check drawn by Cullen for $500 is made payable to the order of...
26–1. Indorsements. A check drawn by Cullen for $500 is made payable to the order of Jordan and issued to Jordan. Jordan owes his landlord $500 in rent and transfers the check to his landlord with the following indorsement: “For rent paid, [signed] Jordan.” Jordan’s landlord has con- tracted to have Deborah do some landscaping on the prop- erty. When Deborah insists on immediate payment, the landlord transfers the check to Deborah without indorse- ment. Later, to pay for some...
11. Ivy signs a check payable to Jon and gives it to him. Jon indorses the...
11. Ivy signs a check payable to Jon and gives it to him. Jon indorses the back of the check by signing his name, and transfers the check to Ked. To negotiate the check to Luis, Ked must a. write "Ked" on the back. b. write "pay to the order of Luis [signed] Ked" on the back. c. deliver the check to Luis. d. obtain Luis's signature on the back. 12. Rollo obtains a check payable to his order from...
Question 3 Bob took a check written by Jack to Jack's bank to be certified. The...
Question 3 Bob took a check written by Jack to Jack's bank to be certified. The bank stamped Certified" on it and gave it back to Bob. What consequence? O Bob can only demand the money from Jack Ob. Bob can only demand the money from the bank. Oc. The bank would have to pay if Jack doesn't Od Bob would have to pay if the bank doesn't (4 points) Not Yet Answered Time remaining 24.55 Question 4 Jan Arthur...
QUESTION 16 A post-dated check is a negotiable instrument. True False 3 points QUE...
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Question 11 Sylvia draws a check on ABC Bank payable "to the order of Ann Smith,"...
Question 11 Sylvia draws a check on ABC Bank payable "to the order of Ann Smith," Ann indorses it and deposits it in First Bank. Ann's bank is a: Oa drawee bank Ob. payee bank Oc collecting bank Od payor bank (4 points) Time remaining 24:10 Not Yet Answered Question 12 Barry presents to Wake Bank for deposit in his account a check for $100 made out to him by Richard. Wake Bank provisionally credits Barry's account on Monday, when...
ity was recorded in the journal as $720. This 45. A check drawn by a company...
ity was recorded in the journal as $720. This 45. A check drawn by a company for $270 in payment of a liability was recorded item would be included on the bank reconciliation as an a. addition to the balance per the company's records b. addition to the balance per the bank statement c. deduction from the balance per the bank statement d. deduction from the balance per the company's records 46. Accompanying the bank statement was a debit memo...
P Flag question How much would you need to deposit in a bank account today in...
P Flag question How much would you need to deposit in a bank account today in order to have $500 in 3 years if the account has a nominal interest rate of 7% and compounds interest monthly? Round to the nearest cent. Answer: Check Question 13 Correct 1.00 points out of 1.00 PFlag question
Blank Endorsement Restrictive Special Endorsement Endorsement Uses the phrase "For deposit only to restrict the use...
Blank Endorsement Restrictive Special Endorsement Endorsement Uses the phrase "For deposit only to restrict the use of the check to only depositing it; it cannot be cashed. Limits who can cash the check by using the phrase "Pay to the order of [Person's name]." Contains only the payee's signature, so that the check is transformed into a bearer instrument. Why is the method used to endorse a check important? Asked differently, why should you care about how you endorse a...
Question 3 Bob took a check written by Jack to Jack's bank to be certified. The bank stamped Certified" on it and gave it back to Bob. What consequence? O Bob can only demand the money from Jack Ob. Bob can only demand the money from the bank. Oc. The bank would have to pay if Jack doesn't Od Bob would have to pay if the bank doesn't (4 points) Not Yet Answered Time remaining 24.55 Question 4 Jan Arthur...
Question 11 Sylvia draws a check on ABC Bank payable "to the order of Ann Smith," Ann indorses it and deposits it in First Bank. Ann's bank is a: Oa drawee bank Ob. payee bank Oc collecting bank Od payor bank (4 points) Time remaining 24:10 Not Yet Answered Question 12 Barry presents to Wake Bank for deposit in his account a check for $100 made out to him by Richard. Wake Bank provisionally credits Barry's account on Monday, when...
ity was recorded in the journal as $720. This 45. A check drawn by a company for $270 in payment of a liability was recorded item would be included on the bank reconciliation as an a. addition to the balance per the company's records b. addition to the balance per the bank statement c. deduction from the balance per the bank statement d. deduction from the balance per the company's records 46. Accompanying the bank statement was a debit memo...
P Flag question How much would you need to deposit in a bank account today in order to have $500 in 3 years if the account has a nominal interest rate of 7% and compounds interest monthly? Round to the nearest cent. Answer: Check Question 13 Correct 1.00 points out of 1.00 PFlag question
Blank Endorsement Restrictive Special Endorsement Endorsement Uses the phrase "For deposit only to restrict the use of the check to only depositing it; it cannot be cashed. Limits who can cash the check by using the phrase "Pay to the order of [Person's name]." Contains only the payee's signature, so that the check is transformed into a bearer instrument. Why is the method used to endorse a check important? Asked differently, why should you care about how you endorse a...
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