Pondering on the Liability of a Signed Check

Who is liable for a signed check in the given scenario?

A) Puck, Quik Mart, and Regional Bank.
B) Puck and Quik Mart only.
C) Puck and Silky only.
D) Silky only.

Answer: I would think A, B, or C.

Reflecting on the scenario, all parties involved in the transaction of the signed check hold some level of liability. Let's break it down:

Puck's Liability:

Puck is the drawer of the check and the one who signed it. He is therefore liable for the amount stated on the check.

Quik Mart's Liability:

Quik Mart is the payee of the check who endorses and signs the back of the check. By endorsing the check, Quik Mart becomes the holder in due course and can claim the amount on the check from Puck's account. Therefore, Quik Mart also holds liability in this transaction.

Silky's Liability:

Silky is the one who verifies Puck's signature and acknowledges that Quik Mart is owed the amount on the check. While Silky is not directly involved in the transaction as the drawer or payee, by becoming a party to the agreement, Silky also shares liability in this scenario.

Based on the roles and responsibilities of each party in the check transaction, it can be concluded that the liability extends to Puck, Quik Mart, and Silky. Each party has a stake in the transaction and is accountable for their involvement.