Ismail Used a Cheque to Pay for a Widget That

question 66

Multiple Choice

Ismail used a cheque to pay for a widget that he bought from Maria. Maria delivered the cheque to Geoff Gagne after writing her signature and the following words on the back of it: "to Geoff Gagne if he builds a gazebo in my backyard." After he acquired the cheque, Geoff wrote his signature and the following words on the back of it: "for deposit only." Which of the following statements is TRUE?

• A) Geoff can negotiate the cheque to Fawn by simply delivering it to her.
• B) The cheque contains a qualified endorsement and a special endorsement.
• C) The cheque contains a qualified endorsement and a restrictive endorsement.
• D) The cheque contains a conditional endorsement and a restrictive endorsement.
• E) Geoff can require Ismail to add an accommodation endorsement to the cheque.

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Definitions:

Keynesians

Economists and theories following John Maynard Keynes, advocating for government intervention to manage economic cycles and promote full employment.

Economic Behaviorists

Researchers or economists who study the psychological, social, cognitive, and emotional factors influencing the economic decisions of individuals and institutions.

Monetarists

Economists of the view that changes in the money supply significantly affect the national output in the short term and have major impacts on the price level over extended durations.

MV = GDP

An equation representing the relationship between the money supply (MV) and gross domestic product (GDP), highlighting the velocity of money in economic activities.