Parkdale Roofing Company receives a check from Quik Mart for fixing its roof, and indorses the check to Repair Supplies, Inc. (RSI). Stef, RSI's owner, gives the check to Tiny as a gift. In this situation, the party who is not an HDC of the check but who acquires HDC rights under the shelter principle is
A. no one.
B. Parkdale Roofing.
C. Stef.
D. Tiny.
Answer: D
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A cost of quality report compares current period quality costs in specified categories to
a. Last year quality costs. b. current period budgeted quality costs. c. total quality costs for the period. d. both a and b.
Joe Smith argues that "learning how to do business analysis and valuation using financial statements is not very useful, unless you are interested in becoming a financial analyst.". Comment
Average costs are used for internal decision-making, but actual costs are required for calculating cost of goods sold.
Answer the following statement true (T) or false (F)
Which of the following would be a preferred creditor in a corporate bankruptcy?
A) a supplier owed $35,000 for goods it had sold to the corporation B) 40 employees who are each owed $2,000 in wages C) a landlord owed 2 month's rent totaling $30,000 D) a car dealer with a chattel mortgage of $20,000 on one of the company's trucks E) both B and C