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:

Individual Psychology

A psychological doctrine introduced by Alfred Adler, focusing on the uniqueness of each person and their drive to fulfill their potential.

Cognitive Approach

A psychological perspective that emphasizes internal mental processes such as perception, memory, and problem-solving as central to understanding behavior.

Personal Constructs

A theory focusing on how individuals perceive, interpret, and predict events in the world through personal mental models.

Humanistic Theory

A psychological perspective emphasizing individual potential, self-growth, and self-actualization, often associated with psychologists such as Abraham Maslow and Carl Rogers.