Hoppy Steals Two Checks from Eagle Retail Stores,Inc

question 4

Essay

Hoppy steals two checks from Eagle Retail Stores,Inc.: a blank check and a check payable to the order of General Supplies Company (GSC),drawn on Eagle's account with First National Bank.Hoppy forges Eagle's sig?na?ture on the blank check and makes it payable to himself.Hoppy forges GSC's indorsement on the back of the check payable to GSC,and adds "Pay to the order of Hoppy." At Friendly Credit,Inc.,Hoppy indorses the back of both checks with his own name and gives them to Friendly for cash.Friendly does not know about the theft or the forged signatures and presents the checks to First National,which pays them.Eagle,which was not negli?gent,discovers the forgeries and asks First National to recredit its ac?count.Who suffers the loss on each check?

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Definitions:

Honda Accords

A model of automobile produced by Honda, known for its reliability, fuel efficiency, and comfort, serving as a popular choice among consumers worldwide.

Price Elasticity

A measure of the responsiveness of the quantity demanded of a good to a change in its price, illustrating how changes in price can affect consumer demand.

Unit-Elastic

A demand or supply situation where the percentage change in quantity demanded or supplied is equal to the percentage change in price, leading to no change in total revenue.

Price Elasticity

An indicator showing the sensitivity of the demanded quantity of a good to price adjustments, computed by the percentage change in demand relative to the percentage change in price.