The Imposter Rule Regarding Negotiable Instruments

question 23

Multiple Choice

The imposter rule regarding negotiable instruments:

• A)was devised to put the responsibility for determining the true identity of the payee on the drawee of a check.
• B)makes the payee's signature valid even though it is a forgery.
• C)does not force the maker to find the wrongdoer.
• D)lays the responsibility of determining the identity of payee on latter holders of an instrument.

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Definitions:

Social Responsibility Pyramid

A theoretical framework suggesting that businesses have multiple layers of responsibilities, ranging from economic, to legal, ethical, and philanthropic duties.

Bottom Level

The lowest tier or position within a hierarchical structure, often referring to entry-level positions in an organization or the base layer of a system.

Strategic Planning Process

A systematic approach used by organizations to define their strategy, direction, and decision-making on resource allocation to pursue their goals.

Establishment

The act of setting up a business or organization; also refers to the business or institution itself once set up.