Which of the Following Was the Result in the Case

question 78

Multiple Choice

Which of the following was the result in the Case Opener, involving the check taken in good faith by a market, later returned to the market based on a stop payment order, and purchased from the market by the plaintiff who sued Cigna, the issuer of the check?

• A) The plaintiff was allowed to recover under the shelter principle and holder-in-due-course status.
• B) The plaintiff was not allowed to recover because he took the check knowing of a problem.
• C) The plaintiff was allowed to recover because the market misrepresented the status of the check.
• D) The plaintiff was not allowed to recover because of the shelter principle and holder-in-due-course status.
• E) The plaintiff was not allowed to recover because the market misrepresented the status of the check.

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Definitions:

Financial Assets

Economic resources or investments that have monetary value, such as stocks, bonds, or bank deposits.

Wealth Concentration

A situation where a disproportionate segment of a country's wealth is owned by a small percentage of its population.

Inheritance Transmission

The process by which assets, rights, and obligations are passed down from one generation to another through legal wills, norms, or customs.

Marriage Selection

The process by which individuals choose their life partners, often based on factors like cultural norms, personal preferences, and social expectations.