If Elin delivers a check payable to her order to First Bank without signing it and receives cash, the transfer is an assignment, not a negotiation. If Elin delivers a check payable to her order to First Bank without signing it and receives cash, the transfer is an assignment, not a negotiation. True False

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ayekrystal5036 ayekrystal5036

11-07-2022
Business

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If Elin delivers a check payable to her order to First Bank without signing it and receives cash, the transfer is an assignment, not a negotiation. If Elin delivers a check payable to her order to First Bank without signing it and receives cash, the transfer is an assignment, not a negotiation. True False

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Tundexi Tundexi · Answer 1 · 2022-07-14T16:59:46+02:00

It is a true statement that an assignment occurs when Elin delivers a check payable to her order to First Bank without signing it and receives cash.

What is an assignment?

This refers to the situation whereby the assignor transfers a rights, property or benefits to another known as the assignee.

Hence, an assignment occurs when Elin delivers a check payable to her order to First Bank without signing it and receives cash.

Therefore, it is a true statement.