Miller Does the Payroll for XYZ Company

question 42

Multiple Choice

Miller does the payroll for XYZ Company.In between the last names of Adams and Bates, he inserts the name Appleton and makes out a weekly paycheck in that name.He keeps the check for himself, signing "Appleton" and cashing it at a local bank.Auditors discovered the fake payee many months later.May XYZ require the bank to recredit?

• A)No, because of the holder rule.
• B)No, because Miller is an XYZ employee, and the fictitious payee rule applies.
• C)Yes, because the indorsement is forged.
• D)Yes, because the check was, in effect, stolen.

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Definitions:

Proposition

A pronouncement or avowal that reveals a conviction or evaluation, with the possibility of being right or wrong.

S are P

A logical structure indicating a relationship where "S" represents the subject and "P" the predicate, asserting that the subject belongs to the predicate category.

Venn Diagram

A diagrammatic representation used in set theory and logic to depict the relationships between sets through overlapping circles or shapes.

Universal Proposition

A categorical proposition that makes an assertion about all members of the class designated by its subject term (A and E).