Tom steals Dave's checkbook,completes a check for $1,000,forges Dave's signature,and gets payment from Tom's bank.The bank paid in good faith.Who is liable to the bank for the $1,000 in this case?
A) Tom
B) Dave
C) Both Tom and Dave
D) Neither Tom nor Dave
Correct Answer:
Verified
Q22: The obligation of an acceptor is:
A)to make
Q24: Jack received a check as payment for
Q25: Chin wants to buy a small parcel
Q26: The drawee does not have liability on
Q27: According to UCC section 3-401 which of
Q29: Usually,who may have the power to surrender
Q31: Which of the following is true regarding
Q33: National bank is reluctant to lend money
Q34: A representative is personally liable to a
Q38: Menzes is the Treasurer of ABC Corp.As
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents