George, John, Paul, Ringo, and Brian are five friends from Iowa. George owes John $100, John owes Paul $200, Paul owes Ringo $300, and Ringo owes Brian $400. John and Paul find a check belonging to George
John names himself as the payee on the check, fills in $200 as the amount, and forges George's signature on it. He indorses the check to Paul and asks him to consider his debt repaid, while keeping the knowledge of the forgery to himself. Paul, in turn, indorses the check to Ringo and pays Ringo the remaining $100 in cash. Predictably, Ringo indorses the check to Brian, who presents the check to George's bank and receives payment. Who among the following can the bank recover the money from, once the forgery is detected?
A) George
B) Paul
C) Brian
D) Ringo
B
You might also like to view...
In selling a product, a business offers tacit assurances that the product is reasonably suitable for its purpose. The law refers to this as the:
A. doctrine of caveat emptor. B. implied warranty of productivity. C. implied warranty of merchantability. D. doctrine of caveat lector.
Which level of measurement is represented by answers on a scale, such as "yes," "no" or "male," "female" represent which level of measurement?
A) scientific B) open-ended C) metric D) categorical E) elemental