Tom Wrote a Check to Mary for $10

question 71

Multiple Choice

Tom wrote a check to Mary for $10.Tom was careful and not negligent in the way he wrote the check.Nevertheless,Mary cleverly altered the check to read $1,000.Tom's bank cashed this check and deducted that amount from his account.Which of the following is correct?

• A)Tom is liable on this check,but only for $10.
• B)Tom is liable on this check for $1,000.
• C)Tom is liable on this check for nothing.
• D)Tom must reimburse the bank for any losses it suffers related to this check.

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Definitions:

Competitive Forces

The external factors that affect a company's capability to compete in a market, including competitors, new entrants, substitute products, bargaining power of buyers, and suppliers.

Future Changes

Anticipated modifications or developments in a particular area or field over an upcoming period.

Standards of the Industry

Refers to the commonly accepted criteria, techniques, and practices that are used in a specific sector or industry.

M'Naghten Standard

A legal principle used to evaluate the criminal liability of a defendant based on the understanding of right and wrong at the time of the crime.