When a Wire Transfer Is Involved,what Happens If a Receiving

question 19

Multiple Choice

When a wire transfer is involved,what happens if a receiving bank mistakenly pays a greater amount to the beneficiary than ordered?

• A) The originator is liable for the entire amount paid, and has no right of recovery.
• B) The originator is liable for the entire amount paid, but may recover only from the person or company who ordered the wire transfer.
• C) The originator is liable for the entire amount, but may recover only from the improper beneficiary.
• D) The originator is liable for only the amount he or she instructed to be paid.
• E) The originator is not liable for any amount, and the transaction is void.

Describe the characteristics of linear demand curves in terms of elasticity.

Understand the implications of elasticity on firms' total revenue following price changes.

Recognize the significance of unit elasticity in demand.

Illustrate the elasticity of demand across different ranges of a demand curve.

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Definitions:

Personal Property Security Act

Legislation that governs the creation and registration of security interests in personal property to secure payment or performance of an obligation.

Repossessed

The act of taking back goods or property by a seller or lender from the buyer or borrower due to non-compliance with the terms of the sale or loan.

Resold

The act of selling an item or property again, especially after purchasing it from the original seller.

Registration

A legislated requirement for incorporating a company in some jurisdictions in Canada.