Zeke writes a check payable to Peter Jones or Sally Jones. Sally indorses the check, but Peter
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Question:
Zeke writes a check payable to "Peter Jones or Sally Jones." Sally indorses the check, but Peter is out of town. Which of the following statements is true?
A. The check need not be honored because it's not properly indorsed.
B. Sally will need to wait until Peter gets back into town and can sign the check before depositing it.
C. Sally can deposit the check, and it will be honored.
D. Sally can deposit the check, but it will be honored only to the extent of half the amount.
Related Book For
Introduction to Probability
ISBN: 978-0716771098
1st edition
Authors: Mark Daniel Ward, Ellen Gundlach
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