In the Event of a Breach of a Presentment Warranty

question 51

Multiple Choice

In the event of a breach of a presentment warranty:

• A)the drawee is entitled to compensation for expenses and loss of interest resulting from the breach to compensate for the amount paid by the drawee.
• B)the drawee's right to recover damages for breach of warranty is annulled by any failure on the part of the drawee to exercise ordinary care in making payment.
• C)the warrantor may defend by showing that the indorsement is effective under the impostor or fictitious payee rules.
• D)the drawee can withdraw an amount equal to the amount paid by the drawee less the amount the drawee received or is entitled to receive from the drawer.

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Definitions:

Priority

The status established by importance or urgency that affects the order or time something will be addressed or done.

Typically Find

An expression used to indicate something that is commonly or generally encountered in particular situations or contexts.

Worsening Dementia

A decline in cognitive function beyond expected levels of normal aging, indicating an increase in the severity of dementia symptoms.

Long-Term Living

Residential options or lifestyles that accommodate individuals typically in their elderly years, providing various levels of support for daily activities and healthcare.