Sarah Has a Checking Account at First Bank

question 71

Multiple Choice

Sarah has a checking account at First Bank.Orrin steals one of her blank checks,writes a check for $250 to himself,and then forges Sarah's signature.Orrin then indorses the instrument to Paul in payment of a debt.Paul,who does not know of the forgery,presents the instrument to First Bank for payment.At First Bank's request,Paul indorses the instrument,and the bank then pays him $250.Which of the following is correct?

• A)Paul has breached the warranties on presentment.
• B)Orrin has breached the warranties on presentment.
• C)Sarah has breached the warranties on presentment.
• D)All of the above are correct.
• E)Two of the above, (a) and (b), are correct.

---

Definitions:

Confidence Interval

A collection of numbers, sourced from sample data, presumed to contain the value of an undiscovered population characteristic.

Population Variance

The variance of a population data set, calculating the mean of the squared deviations from the mean of the data.

Confidence Interval

A range of values, derived from the sample data, that is likely to contain the value of an unknown population parameter.

Sample Variance

A measure of variability that quantifies the spread of a sample data set; calculated as the sum of squared deviations from the sample mean, divided by the sample size minus one.