XYZ Bank Pays a Check That Contains a Restrictive Indorsement

question 53

Multiple Choice

XYZ Bank pays a check that contains a restrictive indorsement "for collection." This indicates that:

• A)the bank has paid the check illegally.
• B)the bank has not acted in good faith.
• C)the bank was negligent with the payment of the check.
• D)the bank has converted the check.

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