Laura Is in Possession of a Check Which Contains the Following

question 46

Multiple Choice

Laura is in possession of a check which contains the following indorsement, "Sam Smith, without recourse, for collection only." The indorsement would be classified as:

• A)blank, qualified, and restrictive.
• B)blank, unqualified, and unrestrictive.
• C)special, unqualified, and restrictive.
• D)special, qualified, and unrestrictive.

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Definitions:

Employment-at-Will Doctrine

A legal principle stating that an employer can fire an employee for any reason (except illegal ones) at any time, and the employee can also leave at any time without reason.

Terminate Employment

The process of ending an individual's employment status with an organization, either by the employer or the employee.

Statutory Rights

Legal entitlements that derive from government legislation.

Derived

Obtained or developed from a source or through a process of reasoning or calculation.