John writes a check for $100 on his account at the Sacred Heart Bank to repay the $100 he owes Perry. He gives the check to Eliot and tells her to hand it over to Perry. However, Eliot loses the check before she can give it to Perry
Later, John realizes that he had not written Perry's name on the lost check. According to the provisions of the Uniform Commercial Code (UCC), on which of the following parties should the risk of loss of the check be placed?
A) Eliot
B) Perry
C) John
D) Sacred Heart Bank
C
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The function of money that expresses prices and contracts for deferred payments in terms of the monetary unit is referred to as:
a. store of purchasing power b. standard of value c. medium of exchange d. credit money
What elements are found in an effective financial plan?
A) Flexibility to allow for changes in your situation B) Sufficient liquidity to meet unexpected needs C) Insurance protection from catastrophic events D) Helps you legally reduce the amount of taxes you owe E) All of the above