Multiple Choice
Fact Pattern 23-1 Lisa writes a check on her account at Metro Bank to Niklas to pay a debt. Niklas negotiates the check by indorsement to O'Leary, who presents it for payment to Prime Bank.
Refer to Fact Pattern 23-1. I f Prime Bank dishonors the check, O'Leary can obtain payment from Niklas
A) if O'Leary timely notifies Niklas.
B) only if Lisa refuses to pay the check.
C) only to the extent that Lisa overpaid her debt to Niklas.
D) under no circumstances.
Correct Answer:

Verified
Correct Answer:
Verified
Q14: Logan is Mining Corporation's agent and is
Q23: A person is liable on an instrument
Q24: Olivia is Physicians Clinic agent and is
Q25: Jack pays Kelly in good faith for
Q26: Talia, who is not an Urban Bank
Q27: An instrument is not defective simply because
Q29: Presentment can be properly made by any
Q31: A holder does not take an instrument
Q32: In the event that there is a
Q71: Cici signs a check "pay to the