Fact Pattern 26-1A (Questions A7-A8 Apply)

question 40

Multiple Choice

Fact Pattern 26-1A (Questions A7-A8 apply)
Seymour writes a check on his account at Platinum Bank to Teri to pay a debt.Teri negotiates the check by indorsement to Rosanna,who presents it for payment to Onyx Bank.
-Refer to Fact Pattern 26-1A.If Onyx Bank dishonors the check,Rosanna can obtain payment from Teri

• A)if Rosanna timely notifies Teri.
• B)only if Seymour refuses to pay the check.
• C)under any circumstances.
• D)under no circumstances.

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Definitions:

Not-for-Profit Organizations

Organizations that operate for purposes other than making a profit, typically focusing on social, educational, charitable, or cultural objectives.

Institutional Buyers

Organizations or entities such as schools, hospitals, and governments that purchase goods or services in large quantities, often at negotiated prices.

Reseller Firm

A business that purchases products from manufacturers, wholesalers, or distributors and then sells them to the public or to other businesses.

Organizational Buying

The decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.