Pete,a Quality Company employee,is authorized to use Quality checks to buy supplies.Pete alters one of the checks to increase its $700 amount by $100,and exchanges it at Retail Office Supply for $700 worth of sup?plies and $100 cash.He keeps the cash.On the check,Retail-an HDC-may obtain pay?ment for
A)$0.
B)$100.
C)$700.
D)$800.

Question

Quizplus · Accepted Answer

Retail, as a holder in due course (HDC), can obtain payment for the original amount of the check, which is $700, as they were not aware of the alteration.

Pete,a Quality Company Employee,is Authorized to Use Quality Checks to Buy