Alice Drew a Check on Her Account at the Third

question 30

Multiple Choice

Alice drew a check on her account at the Third National Bank payable to the order of Aaron.When Aaron presented the check for payment,Third National refused to honor the check.Under these circumstances:

• A)the bank may be liable to Alice for wrongfully refusing payment if Alice has sufficient funds in her checking account to cover it.
• B)the bank may be liable to Aaron for wrongfully refusing payment if Alice has sufficient funds in her checking account to cover it.
• C)the bank has breached its transferor's warranties.
• D)the bank will be liable to both Aaron and Alice.

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Definitions:

Work Efficiency

The effectiveness with which tasks and activities are completed, often assessed in terms of speed, quality, and resource use.

Coordinating Mechanism

The methods, practices, or systems used to align and direct the diverse activities and resources of an organization towards achieving its goals.

Informal Communication

Informal Communication is the exchange of information, ideas, or feelings without formal structure or protocols, often spontaneously among colleagues or within social groups.

Centralization

The concentration of decision-making authority at the top levels of an organization or system.