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Question
James draws a check on his account at First National Bank payable to the order of Terry. If First National does not pay the check when Terry presents it for payment, then:
A. both James and the bank are liable to Terry.
B. James is liable to Terry on the basis of drawer's obligation.
C. James transfers his duties as a drawer to the drawee bank and the bank is liable.
D. neither James nor the bank is liable to Terry.
Answer
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Related questions
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B. allows only the U.S. attorney general to sue for injunctive relief or the seizure of products to enforce various provisions of the act.
C. permits any private party to sue for an injunction to enforce any CPSC rule or order, if, at the time of the suit, the commission or the attorney general has begun an action based on the alleged violation.
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B. states that all defenses available to the purchaser against the seller can also be available against the holder in due course.
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