Sasha Drew a Check Payable to the Order of Janice

question 5

Multiple Choice

Sasha drew a check payable to the order of Janice on First Bank. Janice indorsed the check and sold it to Karl, who took the check to First Bank and requested that the bank certify the check. The bank did so. Later, Karl presented the check for payment, but First Bank refused to pay. In this scenario, which of the following parties may Karl sue for not receiving payment?

• A) First Bank
• B) Sasha
• C) Janice
• D) Sasha and Janice

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Definitions:

Marginal Utility

The heightened benefit received from using one more unit of a good or service.

Marginal Utility Per Dollar

The additional satisfaction obtained from spending one more dollar on a good or service.

Marginal Utility

The supplementary value or enjoyment experienced from the consumption of an additional unit of a good or service.