Peter Draws a Check on His Account at Wright Bank

question 39

Multiple Choice

Peter draws a check on his account at Wright Bank payable to the order of Stella. Peter asks Wright Bank to certify the check and the bank certifies it. Stella presents the check to Wright Bank for payment. Which of the following statements is true of this case?

• A) Wright Bank becomes primarily or absolutely liable on the check.
• B) Peter is primarily liable on the check.
• C) Wright Bank is secondarily liable on the check.
• D) Wright Bank has no contractual liability on the check whatsoever.

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Definitions:

Frequency Distribution

A summary of how often different values occur within a dataset, often represented in a table or graph.

Students

Individuals engaged in learning at educational institutions.

Frequency Polygon

A frequency polygon is a graphical representation of the distribution of a dataset. It uses a series of connected dots or lines at the midpoints of each interval to show frequencies.

Histogram

A histogram is a graphical representation of the distribution of numerical data, where the data is divided into intervals (bins), and the frequency of data within each bin is depicted by the height of the bar.