Chad Writes Dina an Uncertified Check for $500 Drawn on Chad's

question 34

Multiple Choice

Chad writes Dina an uncertified check for $500 drawn on Chad's account at Employees Credit Union. Seven months later, Dina presents the check for payment. The credit union pays the check in good faith without consulting Chad. The credit union

• A)cannot charge Chad's account for any amount.
• B)can charge Chad's account for $250 only.
• C)can charge Chad's account for $500.
• D)is liable for breach of contract.

---

Definitions:

Circulation Numbers

The total quantity of copies of a publication (such as a newspaper or a magazine) distributed in a given period.

Average Fixed Costs

Average fixed costs are calculated by dividing the total fixed costs by the quantity of output produced, showing cost per unit.

MC Curves

Marginal Cost Curves, which illustrate how the cost of producing one additional unit of a good varies as the quantity of production changes.

Gasoline Prices

The cost per unit volume of gasoline, which fluctuates based on factors like crude oil prices, taxes, demand, and supply.