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7. Frank buys a classic Vegas chaise-longue from Sammy at a garage sale. Frank writes Sammy a check for $500 to pay for the chair.
7. Frank buys a classic Vegas chaise-longue from Sammy at a garage sale. Frank writes Sammy a check for $500 to pay for the chair. Sammy is a. the payee. b. the drawee. c. the drawer. d. none of the choices. 8. Jack signs a check "pay to the order of Faye" drawn on Jack's account at Chinatown Bank. Jack has $500 in his account, but the amount of the check is $750, which the bank pays. This is a. a dishonored check. b. a cashier's check. c. an overdraft. d. a stale check. 9. Alec writes a check drawn on Beetlejuice Bank for $250 "payable to Geena" on May 1. Alec dies on May 3. Geena presents the check to the bank on May 5. Unaware of Alec's death, the bank a. must certify the check. b. may pay the check. c. must consult with Alec's heirs before paying the check. d. can do nothing until Ian claims an interest in the account
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