ANSWERS-CH31 - 52 28. A cashier's check is a check drawn by...

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CHAPTER 31 NEGOTIABLE INSTRUMENTS ANSWERS TO CHAPTER 31 True-False Multiple Choice 1. F 2. F 3. T 4. T 5. T 6. F 7. T 8. F 9. F 10. T 11. F 12. T 13. T 14. d 15. b 16. b 17. a 18. d 19. c 20. a 21. b 22. d 23. d 24. d 25. b Short Essay 26. No, the promise is not unconditional because one must look to the contract to understand the obligation. 27. The two basic types of negotiable instruments are promises to pay money and orders to pay money. Promissory notes and certificates of deposit are the former; checks and drafts are examples of the latter. Answers to Student Study Guide and Workbook Questions
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Unformatted text preview: 52 28. A cashier's check is a check drawn by a bank upon itself. A teller's check is a check drawn by a bank upon another bank, or payable at or through a bank. 29. This will not defeat negotiability. Such a note is considered to be payable on demand. 30. First, there is the sense in which drafts and checks involve an order to the drawee to pay money. Second, there is the sense in which the instrument is "order paper": made out to someone's order or further disposition. Answers to Student Study Guide and Workbook Questions 53...
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ANSWERS-CH31 - 52 28. A cashier's check is a check drawn by...

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