Adams Wrote a Check to Jimmy for $5,000

question 28

Essay

Adams wrote a check to Jimmy for $5,000.After three days,Adam was in an accident and died.Now Jimmy wants to collect money from the bank and so he deposited the check.However,the bank is refusing to pay.Is he entitled to get his money?

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Definitions:

Dividend Growth Model

A model that estimates the value of a company's stock based on its expected future dividends and their growth rate.

Market Rate

The market rate, often referred to as the going rate, is the standard or average interest rate, wage, or price charged or paid for a specific good, service, or asset in a specific market.

Equity Securities

Financial instruments that represent ownership interest in a company or corporation, such as common stock.

Cumulative Voting

Cumulative voting is a voting system that allows shareholders to allocate their votes to one or several candidates in a way that can increase minority shareholder representation on the board of directors.