Find the ultimate party most likely to suffer the loss

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Reference no: EM13117105

Rodeo Ranch's agent Silm is authorized to draw checks on Rodeo Ranch's account in Town Bank. Upper Range Corporation is a Rodeo Ranch supplier. Slim writes a check "pay to the order of Upper Range (signed) Slim", Slim then indorses the check in Upper Range's name, and deposits it into his account at Verity Bank. IF verity Bank collects payment, the ultimate party most likely to suffer the loss is:

A) no one

B) Rodeo Ranch

C) Town Bank

D) Upper Range

Reference no: EM13117105

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