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
You might also like to view...
A modified rebuy may occur when a buyer is familiar with the existing product and supplier but may be looking for additional information. Perhaps new competitors or products have entered the market or the current supplier is not meeting expectations.
Answer the following statement true (T) or false (F)
Econ Company produces widgets. Each widget sells for $120, and the company sells approximately 50,000 widgets each year. Unit cost data for the year follows: The unit cost of widgets for direct cost inventory purposes is:
a. $75 b. $45 c. $89 d. $70
____ is (are) the earnings of a corporation that are distributed to the stockholders.
A. Interest B. Dividends C. Retained earnings D. Discounts E. Premiums
That taxpayers were poorly served by thrift regulators in the 1980s is now quite clear. This poor performance is explained by
A) regulators' desire to escape blame for poor performance, leading to a perverse strategy of "regulatory gambling." B) regulators' incentives to accede to pressures imposed by politicians, who sought to keep regulators from imposing tough regulations on institutions that were major campaign contributors. C) Congress's unwillingness to appropriate sufficient funds to permit regulators to examine the many thrift institutions that needed monitoring. D) all of the above. E) only A and B of the above.