Marta Has a Checking Account with Neighbors Bank

question 51

Multiple Choice

Marta has a checking account with Neighbors Bank. Marta signs a check "payable to Olive" drawn on Marta's account. Neighbors Bank is

• A) the payor.
• B) the drawee.
• C) the drawer.
• D) the payee.

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Definitions:

Jurisdiction in Rem

A legal principle allowing courts to exercise authority over a property regardless of the owner's location.

Directed Verdict

A ruling by a court in favor of one party without the need for deliberation by the jury, usually because the evidence overwhelmingly supports one side.

Concurrent Federal Jurisdiction

The situation where both federal and state courts have the authority to hear and decide cases on the same issues.

Admiralty

Relating to maritime law, which governs nautical issues and private maritime disputes.