Generally,assuming No Negligence on the Part of the Victim,when an Endorsement

question 70

Multiple Choice

Generally,assuming no negligence on the part of the victim,when an endorsement on a check has been forged and properly reported to the bank,which party is the party ultimately liable for the loss?

• A)The drawer
• B)The first party to accept the forged instrument
• C)The first legitimate endorser of the instrument
• D)The bank of the first party to accept the forged instrument
• E)The bank of the drawer,even if proper notice was given of the forgery

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Definitions:

Cannibalization

A reduction in sales volume or market share of a company’s existing product due to the introduction of a new product made by the same company.

Product-line Extensions

The introduction of new products to an existing product line, usually related to the current products but targeted to meet different customer needs or preferences.

Sales of Existing

Transactions involving goods or assets that are not new but have been previously owned or used.

Product Line

A group of related products marketed by the same firm.