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The management of Pilot Processing, Inc.is in a state of shock. Pro-union materials have been found in the company cafeteria. In an emergency meeting, top management is brainstorming which union may be targeting the employees so that the company can prepare its response. The executives have forgotten the other primary way the unionizing process can begin, which is _______________.
Alteration
An unauthorized change to an instrument that modifies the obligation of a party to the instrument.
Promissory Note
A written promise to pay a specified sum of money to a certain individual or entity at a specified time or on demand.
Fictitious-Payee Rule
A principle in commercial law that a bank is not liable for fraudulent endorsement payments if the drawer intended the payee to be fictitious.
Refund
The process of returning funds to a purchaser in response to a product return, cancellation, or dissatisfaction with services provided.
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