A broker has been given a commission check for $1,200 but doesn't have time to visit her own bank. Can she deposit the money into the firm's escrow account? Yes, provided the money is only in the escrow account for 3 days or less. Yes, provided the sum is less than $2,000. No, a broker may not commingle her own personal funds in an escrow account. Yes, with the permission of all parties with funds already in the escrow account.

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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A broker has been given a commission check for $1,200 but doesn't have time to visit
her own bank. Can she deposit the money into the firm's escrow account?
3
Yes, provided the money is only in the escrow account for 3 days or less.
Yes, provided the sum is less than $2,000.
No, a broker may not commingle her own personal funds in an escrow account.
Yes, with the permission of all parties with funds already in the escrow account.
Transcribed Image Text:A broker has been given a commission check for $1,200 but doesn't have time to visit her own bank. Can she deposit the money into the firm's escrow account? 3 Yes, provided the money is only in the escrow account for 3 days or less. Yes, provided the sum is less than $2,000. No, a broker may not commingle her own personal funds in an escrow account. Yes, with the permission of all parties with funds already in the escrow account.
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