Fiona Writes a Check "Pay to the Order of Gerri

question 9

Multiple Choice

Fiona writes a check "pay to the order of Gerri" drawn on Fiona's account at Home State Bank. Gerri presents the check for payment to Home State, which ac?cepts it. Primarily liable on the check is

• A) Fiona.
• B) Gerri.
• C) Home State.
• D) none of the choices.

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Definitions:

Direct Dealing

An approach where employers and employees negotiate employment terms without the mediation of a labor union, emphasizing direct interaction and agreement.

Arbitrator

A neutral third-party individual who is chosen to resolve a dispute between parties outside of court, often used in labor disputes to decide on fair terms of agreements or contracts.

Binding Arbitration

A dispute resolution process where an impartial third party makes a decision that is legally binding on both sides involved in the dispute.

Zero-Sum Game

A situation in which one party’s gain is exactly balanced by another party's loss, ensuring that the total value in the system remains unchanged.