Simon Signs a Check "Pay to the Order of Tilly

question 3

Multiple Choice

Simon signs a check "pay to the order of Tilly" drawn on Simon's account in United Bank. Vela forges Tilly's indorsement, First Federal Bank cashes the check, and Vela disappears. United pays First Federal and debits Simon's account. Most likely, the ultimate loss will fall on

• A) Simon.
• B) Trudy.
• C) United Bank.
• D) First Federal Bank.

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Definitions:

Phratry

A social unit or grouping in some tribal societies based on clan affiliations or kinship, often involved in ceremonies and mutual aid.

Eskimo System

In kinship terminology, a system emphasizing the nuclear family by specifically identifying the mother, father, brother, and sister, while lumping together all other relatives into broad categories such as uncle, aunt, and cousin; also known as the lineal system.

Kinship Terminology

The system of terms used in a particular culture to denote familial relationships, such as mother, father, cousin, etc.

Industrial

Related to the sector of the economy involving the manufacturing and production of goods, often characterized by the use of heavy machinery and automation.