Bill Submits a Time Card for a Non-Existent Employee

question 31

Multiple Choice

Bill submits a time card for a non-existent employee.The employer issues the payroll check.Bill forges the indorsement and negotiates the check to Ted.Which of the following statements holds true for this situation?

• A) The loss from the forged check is borne by the holder in due course.
• B) The check cannot be negotiated as it carries the signature of a non-existent person.
• C) The employer has the right to refuse payment to Ted.
• D) Ted submits the check to the employer and gets the mentioned amount.

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Definitions:

Palpitations

The feeling that one's heart is beating too hard or too fast, skipping a beat, or fluttering.

Cholesterol

A lipid molecule synthesized in the liver or ingested from diet, essential for all animal life, but high levels are linked to cardiovascular diseases.

Waxy Substance

A general term for materials that are solid at room temperature and have a slippery or glossy texture; in biological contexts, it might refer to substances like cholesterol.

Cells

The smallest structural and functional units of life, which can replicate independently and are made up of cytoplasm enclosed within a membrane.