Fact Pattern 24-1Lisa Writes a Check on Her Account at Metro

question 32

Multiple Choice

Fact Pattern 24-1Lisa 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 24-1.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:

Coil

An electrical component made by winding conducting wire around a core or forming it into a loop or series of loops, often used in inductors and transformers.

Reactance

The opposition a circuit element offers to the flow of alternating current, due to its capacitance or inductance, affecting the phase between voltage and current.

Inductive Reactance

The opposition that an inductor presents to alternating current, due to its inductance, measured in ohms.

Series

An electrical connection where components are linked in a row so that current flows through each component, one after another.