Dru signs a check payable to Excel Services, Inc., and gives it to Excel, leaving the amount blank but authorizing Excel to fill it in for $1,000. Excel fills in $1,500 and negotiates the check to Friendly Credit Corporation, an HDC. Friendly Credit can enforce the check forA. $0. B. $500. C. $1,000. D. $1,500.

Question

Pranav Rodgers

Business

24 November, 09:56

Dru signs a check payable to Excel Services, Inc., and gives it to Excel, leaving the amount blank but authorizing Excel to fill it in for $1,000. Excel fills in $1,500 and negotiates the check to Friendly Credit Corporation, an HDC. Friendly Credit can enforce the check forA. $0. B. $500. C. $1,000. D. $1,500.

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Answers (1)

Know the Answer?

Elmo · Answer 1

C. $1,000

Explanation:

Data provided in the question

Amount authorized to fill it = $1,000

But Excel fills in $1,500

So by considering the above information, the friendly credit can enforce the check for $1,000 as it is authorized the excel to fill it for $1,000 not for $1,500 so the same can be enforced by the Friendly credit

Hence, the correct option is C.