Fox Is 2½ and Has Just Been Introduced to Snow

question 76

Multiple Choice

Fox is 2½ and has just been introduced to snow for the first time.He will now develop a new mental category to house the concept of snow.In Piaget's theory this process is called:

• A)accommodation.
• B)organization.
• C)analysis.
• D)assimilation.

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Definitions:

Presentment Warranties

Guarantees made by the presenter of an instrument (e.g., a check) regarding their authority and the validity of the instrument in a financial transaction.

Acceptor

A person (drawee) who accepts and signs a draft to agree to pay the draft when it is presented.

Draft

An instrument validating an order by a drawer to a drawee to pay a payee.

Imposter Rule

A legal principle concerning negotiable instruments which states that if an impostor induces a payor to issue a check made payable to the impostor, the drawer is liable for the amount to a holder in due course.