Dalton Presents an Uncertified Check for Payment More Than Six

question 15

Multiple Choice

Dalton presents an uncertified check for payment more than six months after its date. The check was drawn by Emma on her account in First Bank. If the bank follows the usual banking practice in such a case, it will​

• A) ​cash the check.
• B) ​consult Emma.
• C) ​refuse to cash the check.
• D) ​ask Dalton what he would prefer.

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Definitions:

Articles of Incorporation

The legal document filed with a state government to legally establish a corporation, detailing its structure, purpose, and regulations.

Promoters

Individuals or entities involved in creating, organizing, or financing a new business venture.

Fiduciary Relationship

A legal and ethical relationship of trust where one party, the fiduciary, acts in the best interest of another, the principal or beneficiary.

Model Business Corporation Act

A model set of laws prepared by legal experts to guide the states in the development of their corporation statutes.