The ________ states that a drawer or maker is liable on a forged or unauthorized indorsement if the person signing as or on behalf of a drawer or maker intends the named payee to have no interest in the instrument or when the person identified as the
payee is a fabricated person.
A) imposter rule
B) fictitious payee rule
C) fraud in the inception rule
D) fraud in the inducement rule
B
Business
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The firm's before-tax cost of debt is ________. (See Table 9.2 )
A) 7.7 percent B) 10.6 percent C) 11.2 percent D) 12.7 percent
Business
A two-year investment of $3500 is made today at an annual interest rate of 5.75%. Which of the following statements is true?
A) The future value would be greater if the interest rate was higher. B) The present value would be greater if the interest rate was higher. C) The future value would be greater if the interest rate was lower. D) The future value does not change as the interest rate changes.
Business