If Margie Makes Out a Check for $27

question 80

Multiple Choice

If Margie makes out a check for $27.50 when she has only $10 in her account, her bank may:

• A)refuse to pay the check.
• B)pay the check.
• C)bill Margie for $17.50 and service charge.
• D)Any of the above.

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Definitions:

Legal Claim

A right to seek a legal remedy or defense as a result of the violation of one's rights by another party.

Slip-And-Fall

Refers to personal injury claims arising when an individual slips, trips, or falls as a result of a dangerous or neglected condition on someone else's property.

Illusory Promise

A statement that appears to be a promise but does not actually commit the person making it to any action or performance.

Accord

An agreement in law, specifically one that settles a dispute between parties by mutual consent.