The case, State of Qatar v. First American Bank of Virginia, held that:
a. the phrase "for deposit only" is not an effective restrictive indorsement.
b. depositary banks are not required to handle checks consistent with the restrictive indorsement.
c. the phrase "for deposit only" effectively limits the depositary bank to handle the instrument in a manner consistent with the transaction.
d. a stolen check which is indorsed in blank cannot be freely negotiated by the bearer.
c
You might also like to view...
Tarrant Corporation has two manufacturing departments-Casting and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: CastingFinishingTotalEstimated total machine-hours (MHs) 1,000 4,000 5,000Estimated total fixed manufacturing overhead cost$5,700$11,200$16,900Estimated variable manufacturing overhead cost per MH$1.30$2.90 Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. The departmental predetermined overhead rate in the Casting Department is closest to:
A. $1.30 B. $7.00 C. $5.70 D. $5.96
A manual payroll system is more efficient than an electronic payroll system
Indicate whether the statement is true or false
A ________ delivered by a product is the outcome that motivates a customer's buying behavior
A) benefit B) demand C) value D) need E) want
The Gergen Group's 5-year bonds yield 6.85%, and 5-year T-bonds yield 4.75%. The real risk-free rate is r* = 2.80%, the default risk premium for Gergen's bonds is DRP = 0.85% versus zero for T-bonds, the liquidity premium on Gergen's bonds is LP = 1.25%, and the maturity risk premium for all bonds is found with the formula MRP = (t ? 1) × 0.1%, where t = number of years to maturity. What is the inflation premium (IP) on 5-year bonds?
A. 1.40% B. 1.55% C. 1.71% D. 1.88% E. 2.06%