Nelda Writes a Check to Jorge

question 70

Multiple Choice

Nelda writes a check to Jorge. When is this check actually payable?

• A) Within twenty-four hours after it is issued.
• B) As soon as a bank clears it but no longer than 3 business days.
• C) Two days after it is issued.
• D) As soon as it is issued.
• E) No later than 48 hours after it is issued.

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Definitions:

Celler-Kefauver Act

A United States antitrust law passed in 1950, aimed at prohibiting certain types of corporate mergers and acquisitions that reduce competition.

Antitrust Laws

Legislation (including the Sherman Act and Clayton Act) that prohibits anticompetitive business activities such as price fixing, bid rigging, monopolization, and tying contracts.

Interlocking Directorates

The practice of sharing board members among different companies, which can lead to conflicts of interest and anticompetitive behavior.

Sherman Act

A foundational antitrust law in the United States, enacted in 1890, aimed at preventing anti-competitive practices, monopolies, and cartels.