John writes a check,making it payable to Jane Smith.Before Jane indorses the check,Ralph steals it,forges Jane's indorsement,and cashes it at the local grocery store.John's bank charges this check against John's account.John learns of the forgery and complains.Who is ultimately liable for this loss,assuming Ralph cannot be found?
A) John
B) Jane
C) Ralph
D) John's bank
E) The grocery store

Question

Quizplus · Accepted Answer

The Answer of John writes a check,making it payable to Jane Smith.Before Jane indorses the check,Ralph steals it,forges Jane's indorsement,and cashes it at the local grocery store.John's bank charges this check against John's account.John learns of the forgery and complains.Who is ultimately liable for this loss,assuming Ralph cannot be found?
A) John
B) Jane
C) Ralph
D) John's bank
E) The grocery store

John Writes a Check,making It Payable to Jane Smith