In Southwest Bank,the Case in the Text in Which an Employee

question 62

Multiple Choice

In Southwest Bank,the case in the text in which an employee of the plaintiff fraudulently deposited into her personal account at the defending bank checks for which the plaintiff was payee.The plaintiff sued the defending bank for checks endorsed by the employee "for deposit only" and with no endorsement from the plaintiff.Which of the following was the result in this case?

• A)The court ruled that because employee fraud was involved,the defending bank held no responsibility to the plaintiff.
• B)The court ruled that because a fraud was involved,regardless of whether or not it was on the part of plaintiff's employee,the defending bank held no responsibility to the plaintiff.
• C)The court ruled that because the defending bank was merely the depositary bank,it held no responsibility to the plaintiff.
• D)The court ruled that the defending bank was liable to the plaintiff.
• E)The court ruled that the defending bank was entitled to assume that the depositor was entitled to deposit the checks.

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Definitions:

T-test

A statistical test used to compare the means of two groups or test a single mean against a known value.

Critical Value

A point on the scale of the test statistic beyond which we reject the null hypothesis; it defines the cutoff between significance and non-significance.

Null Hypothesis

A hypothesis that suggests there is no significant difference between specified populations, or no association among groups.

Null Hypothesis

A statistical hypothesis that assumes no effect or no difference in an experiment or study, serving as the default assumption to be tested.