If a Maker or Drawer Believes an Imposter to Be

question 58

True/False

If a maker or drawer believes an imposter to be the named payee on an instrument, the imposter's indorsement is not treated as unauthorized.

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Definitions:

Unemployment

The situation of someone of working age and willing to work being unable to find employment.

Off the Books

Financial transactions or employment that are not officially recorded or declared, often to avoid taxes or adhere to regulations.

Inefficiently High Quality

A form of inefficiency in which sellers offer high-quality goods at a high price even though buyers would prefer a lower quality at a lower price; often the result of a price floor.

Government Imposes

Actions undertaken by a government to enforce regulations, taxes, or penalties on individuals or organizations.