When Major Endorsed Customer Minor's Note to Story County Bank,Major

question 104

Multiple Choice

When Major endorsed customer Minor's note to Story County Bank,Major agreed to pay the note at maturity if Minor failed to pay.Major's liability is a(n) :

• A)contra-liability.
• B)absolute liability.
• C)contingent liability.
• D)regular liability.

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Definitions:

Wilhelm Wundt

Often regarded as the father of experimental psychology, he established the first psychology laboratory in Leipzig, Germany.

Structuralism

A theory in psychology focusing on the elements of consciousness and their logical relationships, aimed at understanding the structure of the mind.

Functionalism

A theory in psychology that emphasizes the purpose and practical consequences of mental processes and behaviors.

Mental Processes

The operations of the mind, such as thinking, learning, memory, and perception, that enable understanding and response to the environment.