Fact Pattern 27-2 Lisa Writes a Check on Her Account at Metro Bank

question 59

Multiple Choice

Fact Pattern 27-2
Lisa writes a check on her account at Metro Bank to Niklas to pay a debt. Niklas negotiates the check by indorsement to O'Leary, who presents it for payment to Prime Bank.
-Refer to Fact Pattern 27-2. If Prime Bank dishonors the check, O'Leary can obtain payment from Niklas​

• A) ​if O'Leary timely notifies Niklas.
• B) ​only if Lisa refuses to pay the check.
• C) ​only to the extent that Lisa overpaid her debt to Niklas.
• D) ​under no circumstances.

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Definitions:

Indigenous Canadians

The First Nations, Inuit, and Métis peoples of Canada, each with their own distinct heritage, language, cultural practices, and political systems.

Life Expectancy

The average period that a person may expect to live, which can vary greatly depending on factors such as geographical location, genetics, lifestyle, and access to healthcare.

Non-Indigenous

Referring to individuals or groups that are not native or original to a certain region, often used in the context of people living in lands historically inhabited by indigenous populations.

Rehabilitation Centre

A facility designed to aid in the recovery and therapy of individuals who have suffered from illnesses, injuries, or addictions, helping them regain skills or develop new ones for daily living.