Gary Writes a Check Drawn on Hilltop Bank for $400

question 40

Multiple Choice

Gary writes a check drawn on Hilltop Bank for $400 "payable to Ivan" on May 1. Gary dies on May 3. Ivan presents the check to the bank on May 5. Unaware of Gary's death, the bank​

• A) ​must certify the check.
• B) ​may pay the check.
• C) ​must consult with Gary's heirs before paying the check.
• D) ​can do nothing until Ivan claims an interest in the account.

---

Definitions:

Construction Crane

A type of machinery used on construction sites to lift and lower materials and to move them horizontally.

Savings Account

A deposit account held at a financial institution that provides principal security and a modest interest rate.

Entrepreneur

An individual who creates new business ventures, taking on financial risks in the hope of profit.

Economic Losses

Financial losses incurred by businesses or economies, often as a result of adverse conditions, decisions, or events that affect income or assets.