Asked by
Paige Zinda
on Nov 28, 2024
Verified
Qato forges Rush's name as the drawer of a stolen check, drawn on Scrutiny Bank, makes the item payable to Qato, and deposits it in his own Scrutiny account. In response to a call from the bank, Rush ratifies the signature. In this situation, Rush is liable to pay the amount to
A) no one.
B) ordinary holders only.
C) ordinary holders, HDCs, and holders through HDCs.
D) HDCs only.
Stolen Check
A check that has been taken without the owner's permission, potentially leading to unauthorized or fraudulent transactions.
Forges
A process of forming or shaping metal objects using localized compressive forces, or to illegally copy something, like a document, with the intent to deceive.
- Evaluate the consequences of fraudulent activities and forgery on negotiable instruments and the affected parties.
Verified Answer
RR
Learning Objectives
- Evaluate the consequences of fraudulent activities and forgery on negotiable instruments and the affected parties.