Jacob Bought a Widget from Erin for $15 000

question 62

Multiple Choice

Jacob bought a widget from Erin for $15 000.In payment,he gave her a cheque that was payable to her.The cheque was drawn on his account at the Bank of Kitchener.Erin signed her name on the back of the cheque and delivered it to Arthur in order to discharge a debt that she owed to him.Arthur presented the instrument to the Bank of Kitchener for payment,but was refused payment because the balance for Jacob's account was only $8000.Which of the following statements is TRUE?

• A)Arthur should provide notice of dishonour to the bank's manager as soon as possible.
• B)Arthur has a right to collect $8000 from the bank.
• C)If the widget that Jacob bought from Erin is defective,Arthur cannot acquire any rights against the drawer of the cheque.
• D)Notice of dishonour will be effective only if it is made in writing.
• E)Arthur may be able to sue Jacob and Erin.

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Definitions:

Single Greatest Attraction

The main or most significant feature, quality, or aspect that draws or appeals to someone.

Intimate Companionship

A close, personal relationship characterized by deep emotional connection, affection, and mutual support.

Loved One

A person for whom someone has deep affection; often a family member, partner, or close friend.

Coping With Conflict

Strategies and mechanisms individuals employ to manage and resolve disagreements or disputes in a healthy and constructive manner.