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Question
Bill submits a time card for a non-existent employee. The employer issues the payroll check. Bill forges the indorsement and negotiates the check to Ted. Which of the following statements holds true for this situation?
A. The loss from the forged check is borne by the holder in due course.
B. The check cannot be negotiated as it carries the signature of a non-existent person.
C. The employer has the right to refuse payment to Ted.
D. Ted submits the check to the employer and gets the mentioned amount.
Answer
This answer is hidden. It contains 176 characters.
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