Jacob Bought a Widget from Erin for $15 000

question 57

Multiple Choice

Jacob bought a widget from Erin for $15 000. In payment, he gave her a cheque that was payable to her. The cheque was drawn on his account at the Bank of Kitchener. Erin signed her name on the back of the cheque and delivered it to Arthur in order to discharge a debt that she owed to him. Arthur presented the instrument to the Bank of Kitchener for payment, but was refused payment because the balance for Jacob's account was only $8000. Which of the following statements is TRUE?

• A) Arthur has a right to collect $8000 from the bank.
• B) Arthur should provide notice of dishonour to the bank's manager as soon as possible.
• C) Notice of dishonour will be effective only if it is made in writing.
• D) If the widget that Jacob bought from Erin is defective, Arthur cannot acquire any rights against the drawer of the cheque.
• E) Arthur may be able to sue Jacob, but not Erin.

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Definitions:

Hierarchical List

An organized structure of items or elements ranked or sorted based on levels of importance, priority, or classification.

Role Play

An educational or therapeutic technique in which participants act out roles in specific scenarios to learn, practice behaviors, or solve problems.

Feeling Word Checklists

Tools used in psychological assessments to help individuals articulate their emotions by selecting descriptive words.

Behavior Checklists

Behavior checklists are structured lists used for assessing the presence or absence of specific behaviors or symptoms.