John Writes Out a Check for $100 on His Account

question 20

Multiple Choice

John writes out 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 hand it to Perry.Later, John realizes that he had not written Perry's name on the lost check.According to the provisions of the 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

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Definitions:

Items

Individual objects, units, or components that are part of a larger set or list.

Less than

A mathematical term indicating that one quantity or number is smaller or lower in value when compared to another.

Levels-of-processing Model

A theory suggesting that the depth of mental processing affects memory recall, with deeper processing resulting in longer-lasting memory.

Information-processing Approach

A view in cognitive psychology that likens the mind to a computer in terms of how information is encoded, stored, and retrieved.