Kip Is Lulu's Agent and Is Authorized to Write Checks

question 24

Multiple Choice

Kip is Lulu's agent and is authorized to write checks on Lulu's account in Metro Bank.Kip writes a check "pay to the order of Nemo." Kip signs the check "Lulu,by Kip,agent." If Metro Bank dishonors the check,liability extends to

• A)Kip and Lulu.
• B)Kip only.
• C)Lulu only.
• D)no one.