Multiple Choice
JimBob, a guest in Jimbo's house, opens Jimbo's desk and writes a check to himself on Jimbo's checking account, forging Jimbo's signature.He indorses the check " JimBob Saunders" and presents it to Jimbo's bank for payment.If the bank pays, can it collect from Jimbo's account?
A) No, because bank should have known the signature is forged.
B) No, because Jimbo did not know of the check.
C) Yes, because JimBob is the real payee.
D) Yes, because Jimbo's name is on the check.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: A drawee bank is primarily liable after
Q17: An acceptance must be written on the
Q33: The maker is the primary party on
Q39: Any kind of notice of dishonor that
Q42: Presentment is a demand made by or
Q44: Warranties on presentment are the same regardless
Q46: An unauthorized signature cannot be ratified by
Q48: a. Discuss primary liability on a note;
Q66: An acceptor should always indicate on the
Q68: When a severe weather warning has been