Ivan Is a Representative of Sigma Inc

question 21

Essay

Ivan is a representative of Sigma Inc.,Checks are drawn by "Sigma Inc.,Payroll Account (signed)
D. Ivan," but the checks are not paid. Who is liable on the instrument-the individual or the corporation?

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Definitions:

Credit Unions

Financial institution cooperatives made up of depositors with a common affiliation.

Open Market

A freely competitive market where buyers and sellers can trade goods, services, and securities without excessive regulations, often facilitating price determination through supply and demand.

Money Supply

The total volume of money available in the economy, including cash, coins, and balances held in bank accounts.

Reserve Requirements

Reserve Requirements are regulations set by central banks determining the minimum amount of reserves that banks must hold against deposits, used as a tool of monetary policy.