Simon Signs a Check "Pay to the Order of Tilly

question 3

Multiple Choice

Simon signs a check "pay to the order of Tilly" drawn on Simon's account in United Bank. Vela forges Tilly's indorsement, First Federal Bank cashes the check, and Vela disappears. United pays First Federal and debits Simon's account. Most likely, the ultimate loss will fall on

• A) Simon.
• B) Trudy.
• C) United Bank.
• D) First Federal Bank.

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Definitions:

Emissions Tax

An emissions tax is a levy on the pollution generated by businesses or individuals, aimed at reducing the environmental harm caused by such emissions.

Dairy Farms

Agricultural enterprises where cattle are raised for milk production, which may be processed on-site or at separate facilities.

Tradable Emissions Permit

A regulatory tool that allows businesses to buy, sell, or trade allowances that permit them a certain amount of pollutant emissions, encouraging reduction in pollution in a cost-effective manner.

Discharge Level

Discharge level typically pertains to the volume or rate at which a fluid, such as water or gas, is expelled from a given source, often used in environmental science to refer to pollution control.