Holly writes a check on her account at Investment Bank to Jerry to pay a debt. Jerry negotiates the check by indorsement to Kelly, who negotiates the check by indorsement to Lisa, who presents it for payment to Interstate Bank. If Investment Bank dishonors the check, Lisa can obtain payment from Kelly
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if Lisa timely notifies Kelly.
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B. |
only if Holly refuses to pay the check.
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C. |
only if Holly and Jerry refuse to pay the check.
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D. |
under no circumstances.
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