Baer writes a check for $500 “payable to Cary” drawn on Baer’s account at Debit Bank. Cary indorses and sells the check to Esau, who deposits the check in his account at Fidelity Bank. Fidelity dishonors the check. Baer or Cary may be liable for payment of the check if a. timely notice of dishonor is given. b. more than thirty days have elapsed since the check was written. c. the check was not properly presented for payment. d. the drawer of the check does not repudiate the dishonor.
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Baer writes a check for $500 “payable to Cary” drawn on Baer’s account at Debit Bank. Cary indorses and sells the check to Esau, who deposits the check in his account at Fidelity Bank. Fidelity dishonors the check. Baer or Cary may be liable for payment of the check if
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Liam, who is authorized to draw checks on Manufacturing Company’s account, signs a check preprinted with the company’s name with a signature that reads simply, “Liam.” On this check, Liam is
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62Bravo co-signs a $15,000 note payable to College Loan Company enabling Dios to obtain a student loan. The terms of the note stated that Bravo signed “on behalf of” Dios. If Dios stops making payments on the debt, Bravo is
a. primarily liable.
b. not liable because Bravo signed “on behalf of” Dios.
c. discharged from any obligation.
d. secondarily liable
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