Themba Stole Umi's Checkbook and Wrote a Check for $100

question 45

Multiple Choice

Themba stole Umi's checkbook and wrote a check for $100 forging Umi's signature. Under these circumstances, _____.

• A) Themba, but not Umi, is liable on the check
• B) Umi, but not Themba, is liable on the check
• C) both Themba and Umi are liable on the check
• D) the bank will be liable on the check

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Definitions:

May 40 Put

A put option contract with a strike price of $40, expiring in May, giving the holder the right to sell the underlying asset at this price.

May 40 Call

An options contract that gives the holder the right, but not the obligation, to buy a stock at a price of $40 per share before or on its expiration in May.

ABC Stock

A hypothetical or generic naming for a stock used in examples; not a specific financial term.