Bill Signs a Check Payable to the Order of City

question 12

Multiple Choice

Bill signs a check payable to the order of City Bank, filling in the blanks for the amount with the figures "$100" and "One thousand and 00/100 dol?lars." This check is payable in the amount of

• A) $0.
• B) $100.
• C) $1,000.
• D) $1,100.

---

Definitions:

Duty to Account

An obligation to provide a detailed report of financial transactions or holdings, typically mandated in fiduciary relationships or other scenarios demanding transparency and accountability.

Best Interest

The most favorable or advantageous course of action for an individual or entity, often used in legal and financial contexts to determine what practices or decisions will most benefit the party in question.

Compete

To engage in an effort to win or excel against others, often in business, sports, or any area where performance and achievement are measured against others.

Apparent Authority

Apparent authority refers to a situation where a third party reasonably believes that an agent has the authority to act on behalf of another (the principal), even if such authority has not been explicitly or implicitly granted.