If a Person Paying an Instrument Subject to the Impostor

question 70

True/False

If a person paying an instrument subject to the impostor rule fails to exercise ordinary care, the issuer may recover from the payor to the extent the payor's negligence contributed to the loss.

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Definitions:

Evaluative Criteria

Standards or benchmarks used to assess the attributes or performance of an object, person, or concept for decision-making purposes.

Competing Purchase

A situation where a customer must choose between two or more competing products or services.

Functional Categories

In linguistics and grammar, these are categories of words that serve a grammatical purpose without necessarily carrying lexical meaning, such as determiners, conjunctions, and prepositions.

Problem Recognition

The initial step in the consumer decision-making process where the consumer identifies a need or problem that requires a solution.