In the Month of November, Gavin Company Inc

question 103

Multiple Choice

In the month of November, Gavin Company Inc.wrote checks in the amount of $46,250.In December, checks in the amount of $63,290 were written.In November, $42,340 of these checks were presented to the bank for payment and $54,415 in December.What is the amount of outstanding checks at the end of December?

• A)$8,875.
• B)$3,910.
• C)$12,785.
• D)$17,750.

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Definitions:

Assignment of Mortgage

Assignment of mortgage is the process by which a mortgage holder transfers the mortgage and its associated rights and obligations to another party.

Consent

Consent refers to the voluntary agreement to or approval of what is done or proposed by another; it's essential in legal contexts to validate contracts, medical treatments, and certain interactions.

Discharge

The act of releasing an individual or entity from a legal obligation, such as a debt or duty.

Remortgage Without Consent

The act of obtaining a new mortgage on a property without the approval or agreement of the existing lender or relevant parties who have an interest in the property.