Alpha Corp Appears to Be the Named Payee of a Cheque

question 51

Multiple Choice

Alpha Corp appears to be the named payee of a cheque drawn by Ultimate Inc.Ultimate, however, insists that that piece of paper cannot possibly be treated as a valid cheque under the Bills of Exchange Act.That is TRUE if

• A)the instrument was certified before being delivered.
• B)the instrument had been materially altered after being drafted.
• C)the instrument is drawn on Lester, who is the major shareholder of ultimate.
• D)payment is to be made from an overdrawn account.
• E)the instrument is postdated.

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