Investors and creditors rely upon the independent evaluation by accountants of the financial statements issued by management
Indicate whether the statement is true or false
True
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Francenie was digging a trench to install a drainage pipe along her property line and she accidentally tunneled under a small area on her neighbor's property. The entry onto the neighbor's property:
a. cannot be a trespass because it was beneath the surface of the land. b. is not a trespass unless there was some actual damage to the neighbor's land. c. is a trespass. d. is not a trespass because Francenie was under the reasonable belief that she owned all of the land on which she was digging.
An express contract is one in which the agreement is shown by the acts and conduct of the parties
Indicate whether the statement is true or false
If a federal agency issues a new regulation, it may:
a. be challenged in court by any citizen?individual or corporate b. be challenged by parties who claim the regulation caused them legally recognized harm c. be challenged only if there is a constitutional issue in question d. not be challenged if issued under a Congressional order that precludes all challenges e. none of the other choices
Unauthorized Indorsements. First National Bank collected debts owed to Rock Island Bedding Co and Berry Industries, Inc, and in turn paid those two firms the amounts collected by remitting checks to them drawn on First National Bank. On several
occasions, Johns, an employee of First National, asked the bank's accounting department to prepare cashier's checks payable to Rock Island Bedding Co and to Berry Industries, Inc The requests did not appear to be irregular, because the bank had been making regular payments to the two firms. Johns, however, forged the payees' indorsements on eighteen of the checks so issued and deposited them into an account at First City Bank of Dallas. Johns fraudulently obtained $903,300 in this way. First City indorsed the checks "P.I.G." (prior indorsements guaranteed) and presented them to First National for payment. First National paid the checks and later recovered from its insurer, Fidelity & Casualty Co Fidelity sought recovery from First City, claiming that Johns's forged indorsements did not authorize First City to pay the checks and that First City should bear the loss. Do you agree? Why or why not?