Which of the Following Must Occur for a Drawer to Become

question 53

Multiple Choice

Which of the following must occur for a drawer to become liable on a check?

• A) The only requirement is that the holder of the instrument present the instrument to the drawer in a proper and timely fashion.
• B) The only requirement is that the holder of the instrument present the instrument to the drawee in a proper and timely fashion.
• C) The two requirements are that (1) the holder of the instrument present the instrument to the drawer in a proper and timely fashion and (2) the holder establish that the check was wrongfully dishonored.
• D) The three requirements are that (1) the holder of the instrument present the instrument to the drawee in a proper and timely fashion, (2) the instrument be dishonored, and (3) notice of the dishonor be given to the drawer.
• E) The four requirements are that (1) the holder of the instrument present the instrument to the drawee in a proper and timely fashion, (2) the instrument be dishonored, (3) notice of the dishonor be given to the drawer, and (4) proof provided by the holder that the check was wrongfully dishonored.

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Definitions:

Yardsticks

Measures or standards used for comparison.

Preventive Actions

Measures taken to detect and eliminate potential causes of non-conformities or other undesirable situations before they occur.

Corrective Actions

Corrective actions refer to steps taken to identify, eliminate, and prevent the recurrence of undesirable behaviors or conditions in an organization or process.

Necessary

Essential or needed to achieve a specific outcome or fulfill a particular need.