Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kris is an administrative assistant with Little Financial Corporation, but has no authority to sign Little Financial checks. Kris orders merchandise from My-T-Fine Retail Company

Kris is an administrative assistant with Little Financial Corporation, but has no authority to sign Little Financial checks. Kris orders merchandise from My-T-Fine Retail Company delivered to her home and pays with a Little Financial check, signing “Little Financial Corp. by Kris, admin.assist.” My-T-Fine does not know that Kris has no authority to sign the check. Who is liable on the check, and why?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

A check is the most common type of commercial paper in circulation today A large number of checks ar... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting 2017

Authors: Jeanette Landin, Paulette Schirmer

3rd edition

1259572188, 1259572180, 1259742512, 9781259742514, 978-1259572180

More Books

Students also viewed these Accounting questions

Question

Find b such that f (x) = -3x2 + bx - 1 has a maximum value of 2.

Answered: 1 week ago