Jacob Writes Phillip an Uncertified Check for $500 on January

question 42

Multiple Choice

Jacob writes Phillip an uncertified check for $500 on January 1.Seven months later,Phillip presents the check at the bank.The bank pays the check in good faith without consulting Jacob.The bank

• A)does not have the right to charge Jacob's account for $500.
• B)only has the right to charge Jacob's account for $250.
• C)has the right to charge Jacob's account for $500.
• D)can be held liable for breach of contract.

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Definitions:

External Leader

A leader who is not part of the organization but influences and guides the team or project from outside the organization.

Headquarters Budget

The financial plan for an organization's main office, allocating resources for its operations, projects, and administrative functions.

Cooperation Theory

A belief in cooperation and collaboration rather than competitiveness as a strategy for building teamwork.

Competition

Competition refers to the rivalry among businesses or individuals for resources, customers, or market share.