Asked by
Tommy Morris
on Nov 28, 2024
Verified
Allys writes a check to Beri on Allys' account at Community Bank. The bank dishonors the check even though Allys has sufficient funds in her account. The bank is liable to
A) Allys.
B) Beri.
C) the payee on Ally's next check.
D) no one.
Dishonors
Refers to the failure to fulfill an obligation, especially the failure of a bank to pay a check or note when presented.
Sufficient Funds
The necessary amount of money available to complete a transaction or meet financial obligations.
Liable
Being legally responsible or obligated to make amends for harm caused to another person or property.
- Pinpoint and expound on the legal outcomes tied to the issuance, refusal, and payment of checks in accordance with the Uniform Commercial Code.
Verified Answer
MB
Learning Objectives
- Pinpoint and expound on the legal outcomes tied to the issuance, refusal, and payment of checks in accordance with the Uniform Commercial Code.