Sally Gave Her Mechanic a Check for $300 in Payment

question 63

True/False

Sally gave her mechanic a check for $300 in payment for car repairs.The bank dishonored her check because her account balance was less than $200.Sally could be prosecuted for uttering a forged instrument.

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Definitions:

Commodity Contracts

Legal agreements to buy or sell a particular commodity at a predetermined price at a specified time in the future.

Certificates of Deposit

Financial instruments offered by banks that provide an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period of time.

General Intangibles

Assets that are non-physical in nature, such as patents, copyrights, trademarks, and goodwill.

Copyrights

A form of intellectual property law that gives the creator of an original work exclusive rights to its use and distribution, typically for a certain period.