If a Party Presents a Check Containing a Forged Signature

question 59

Multiple Choice

If a party presents a check containing a forged signature to a bank for payment that the bank pays,from whom can the bank collect?

• A) the forger only
• B) the forger or the drawer
• C) the forger or the party who presented the check
• D) the forger or the party who presented the check,but only if the party presenting the check had knowledge that the signature was not genuine
• E) the forger and any person who has been a holder

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Definitions:

Clayton Act

A piece of U.S. legislation enacted in 1914 aimed at promoting competition among enterprises and preventing monopolies by outlawing certain anti-competitive practices.

Sherman Act

A landmark federal statute passed in 1890 aimed at promoting competition among businesses by prohibiting monopolies and other activities that restrained trade.

Clayton Act

A U.S. law enacted in 1914 aimed at promoting competition by preventing mergers and acquisitions that could significantly reduce market competition.

Tying Contracts

Agreements where the seller conditions the sale of one product on the purchase of another product.