2 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
NR275.BUS.241.35.SP11 - ([Spring 2011] BUS 241-35: Business Law I) Assignments ... Module 5 Practice Test Review Test Submission: Module 5 Practice Test Review Test Submission: Module 5 Practice Test User Kristen M Ritch Submitted 3/5/11 5:27 PM Name Module 5 Practice Test Status Completed Score 0 out of 100 points Time Elapsed 5 seconds out of 2 hours and Instructions Question 1 A person who receives an instrument as a gift normally possesses the rights of an HDC. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 2 USA Oil Corporation signs an instrument that states it is being executed "in accord with a contract for the purchase of 4,000 barrels of oil dated May 1." This instrument is Selected Answer: [None Given] Correct Answer: negotiable. 0 out of 2 points Question 3 An instrument is nonnegotiable unless the word "negotiable" is printed on it. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 4 When the drawee of an unaccepted draft or check pays to a holder the amount due in full, all parties to the instrument are discharged. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 5 Tyrone draws a check payable to "Cash" and presents it to United Bank for payment. This instrument is Selected Answer: [None Given] Correct Answer: a bearer instrument. 0 out of 2 points NR275.BUS.241.35.SP ([Spring 2011] BUS 241-35: Business Law I) Announcements Assignments Course Documents Discussion Board My Grades Communication Tools Resources
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Question 6 Superior Company draws a check payable to Ted. Uri makes a note payable to Vital Finance Corporation. Primarily liable parties include Selected Answer: [None Given] Correct Answer: Uri only. 0 out of 2 points Question 7 A certificate of deposit may be negotiable even if it does not contain an express promise to pay. Selected Answer: [None Given] Correct Answer: True 0 out of 2 points Question 8 Opal signs a promissory note payable to the order of Payday Loan Company. The note states that it is payable "with interest at the legal rate." This note is Selected Answer: [None Given] Correct Answer: negotiable. 0 out of 2 points Question 9 An instrument is not defective because it has been previously dishonored. Selected Answer: [None Given] Correct Answer: False 0 out of 2 points Question 10 Jen makes a gift of a check to Kilroy who takes it in good faith and without notice of any claim, defense, or defect. With respect to this check, Kilroy is Selected Answer: [None Given] Correct Answer: an ordinary holder. 0 out of 2 points
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 8

2 - NR275.BUS.241.35.SP11 - ( [Spring 2011] BUS 241-35:...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online