Roald Writes a Check for $700 to Savannah

question 27

Multiple Choice

Roald writes a check for $700 to Savannah.Savannah indorses the check in blank and transfers it to Twitchell,who alters the check to read $7,000 and presents it to Union Bank,the drawee,for payment.The bank cashes it.Roald discovers the alter?ation and files a suit against the bank.Roald can recover

• A)$7,000.
• B)$6,300.
• C)$700.
• D)0.

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Definitions:

Receiving Department

The area in a business where goods and materials are received from suppliers and checked for quality and quantity.

Receiving Process

The sequence of actions taken to accept goods into a storage facility, including inspection, documentation, and stocking.

Bill of Lading

A legal document issued by a carrier to a shipper, detailing the type, quantity, and destination of the goods being carried.

Shipper and Carrier

A shipper is a person or company sending goods; a carrier is the party responsible for the transport of those goods.