What are a payor bank's rights to subrogation upon an improper payment of an instrument?
If a payor bank pays an item over a valid stop payment order, after an account has been closed, or otherwise in violation of its contract with the drawer or maker, the payor bank is subrogated to or obtains the rights of (a) any holder in due course on the item against the drawer or maker, (b) the payee or any other holder against the drawer or maker, and (3) the drawer or maker against the payee or any other holder.
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Style simply describes the ________ of a product
A) quality B) appearance C) utility D) durability E) long-term benefits
A(n) ________ occurs when one person agrees to answer for the debts or duties of another person
A) main purpose exception B) mortgage C) guaranty contract D) implied integration
Which of the following is NOT true regarding a process flow chart?
a. It graphically displays the dollar cost of a step in a process. b. It helps a firm’s quality improvement team understand how the process currently works and identify quality-related issues and redundant steps. c. It shows how much value is added by each step in a process. d. It displays compliance with government regulations.
Another approach to international business is buying products in one country and selling them in another country without being involved in manufacturing. This is an example of the _________________________ approach to international business.
Fill in the blank(s) with the appropriate word(s).