When a Bank Pays a Check on Which the Drawer's

question 59

True/False

When a bank pays a check on which the drawer's signature is forged, generally the customer suffers the loss.

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Definitions:

Limited Liability Partnership

A partnership in which some or all partners have limited liabilities, protecting them from the debts and liabilities of the partnership beyond their investment.

Professional Misconduct

Refers to inappropriate or unethical behavior by a professional in their occupation, often leading to disciplinary action.

Accountant

A professional who performs accounting functions such as audits or financial statement analysis.

Privity

A relationship between two parties that is recognized by law, such as a contractual relationship.