Question

Bob, a guest in Jim's house, goes into Jim's desk and writes a check to himself on Jim's checking account, forging Jim's signature. He indorses the check "Bob"and presents it to Jim's bank for payment. If the bank pays, can it collect from Jim's account? Oa. Yes, because Bob is the real payee. Ob. Yes, because Jim's name is on the check Oc. No, because the bank should have known the signature was forged. Od. No, because Jim did not know of the check. (4 points) Not Yet Answered Time remaining: 2434 Question 8 An association of banks created for the purpose of settling accounts with each other on a daily basis is a a payor banking group Ob. clearinghouse O c. provisional reserve. O collecting intermediary (4 points) Not Yet Answered Time remaining 24.34 Question 9

Answer 1

7.) Option - 'C'

No, because the bank should have known the signature was forged.

8.) Option - 'B'

An association of banks created for the purpose of settling accounts with each other on a daily basis is a Clearinghouse.