Author Question: Robb stole one of Markum's blank checks, made it payable to himself, and forged Markum's signature ... (Read 27 times)

anshika · **on:** Jun 24, 2018

Robb stole one of Markum's blank checks, made it payable to himself, and forged Markum's signature to it. The check was drawn on the Unity Trust Company. Robb cashed the check at the Friendly Check Cashing Company, which in turn deposited it with its bank, Farmer's National. Farmer's National proceeded to collect on the check from Unity Trust. The theft and forgery were quickly discovered by Markum, who promptly notified Unity. None of the parties mentioned were negligent. Who will bear the loss, assuming the amount cannot be recovered from Robb?
a. Markum
b. Unity Trust Company
c. Friendly Check Cashing Company
d. Farmer's National

Question 2

The federal government pays for a lot of the construction costs for local sewage treatment plants.
a. True
b. False
Indicate whether the statement is true or false