Revised Article 3 Provides That the Impostor Rule Does Not

question 2

True/False

Revised Article 3 provides that the impostor rule does not include an impostor who impersonates an agent of a principal and who induces someone to create a negotiable instrument payable to the principal.

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Definitions:

Private Market

A part of the financial market in which financial instruments and assets are traded that are not available on the public stock exchanges.

Marginal Social Benefit

The additional benefit received by society from the production or consumption of one more unit of a good or service.

Marginal Cost

The expense incurred from manufacturing an extra unit of a product or service.

Total Social Benefit

The total benefit to society from producing or consuming a good, including both private benefits and any external benefits.