Solved

On August 1, 1990, Lisa Wrote a Check for $100

Question 47

Multiple Choice

On August 1, 1990, Lisa wrote a check for $100 payable to the order of Marcia, her sister. Marcia misplaced the check and found it in May 1991, and attempted to cash it. Under these circumstances, the _____.


A) bank must honor the check
B) bank cannot pay the check out of Lisa's account
C) bank may, in good faith, pay the check and charge it to Lisa's account
D) check is no longer valid because it is a stale check

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions