Maia Wrote a Check Which Said,"Pay to the Order of Kevin

question 39

Multiple Choice

Maia wrote a check which said,"Pay to the order of Kevin Mathews $10.97." The next line of the check stated,"One thousand ninety-seven Dollars." In applying the rules of interpretation,how much should the drawee pay?

• A)Nothing;when the instrument is ambiguous it is declared non-negotiable.
• B)Ten dollars and 97 cents.Numbers control over words.
• C)One thousand,ninety-seven dollars or $1,097.00.Words control over numbers.
• D)Parol evidence would be needed to determine the purpose of the check.

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Definitions:

Direct Foreign Investment

An investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets.

World Bank

A bank that lends (and guarantees loans) to developing countries to assist them in increasing their capital stock and thus in achieving economic growth.

Last-Resort Lending Agency

An institution, typically a country's central bank, that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky.

Natural Resources

Resources that are found in nature and can be used for economic gain, such as minerals, forests, water, and fertile land.