Jess Receives a Check from Kelly

question 72

Multiple Choice

Jess receives a check from Kelly. Without Jess's knowledge, Leo indorses it in his own name and deposits it in his account at Metro Bank. In Jess's subsequent suit against the bank for the money, the court will most likely rule in favor of​

• A) ​Jess, because Leo's signature is not authorized.
• B) ​Jess, because Metro Bank is not a holder in due course.
• C) ​Metro Bank, because Leo's signature is not authorized.
• D) ​Metro Bank, because it is a holder in due course.

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Definitions:

Marginal Product

The elevation in production output stemming from the addition of one unit of input.

Profit Maximization

The process or strategy where a firm adjusts its production to achieve the highest possible profit.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the physical factors of production including machinery, buildings, and land.

Labor

The contribution of human physical and mental energies in the fabrication of goods and the supply of services.