test 4 kyun att 2 - Question 1 2.5 out of 2.5 points Fact...

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Question 1 2.5 out of 2.5 points Fact Pattern 18-1 Prime Irrigation Systems, Inc., signs a check payable to Qwest Landscape Design, Inc., drawn on Prime's account at Riverton Bank and dated June 1. Qwest indorses the check to Serene Lawn Care Corporation. Refer to Fact Pattern 18-1. To hold Prime secondarily liable, Serene must present the check for payment within Answer Selected Answer: Question 2 2.5 out of 2.5 points An undated instrument is negotiable. Answer Selected Answer: Question 3 0 out of 2.5 points Julie's Juice Bar receives daily shipments of dairy products from Kelso Dairy, Inc. The price is $900 per month. Julie's pays six months in advance with a note for $5,400. One month later, Kelso sells the note to Littleton Bank for $5,100. At the time the note is sold, Kelso is Answer Selected Answer: Question 4 0 out of 2.5 points Wyatt inherits a promissory note from Xena, his aunt. Wyatt has no notice that the note has been dishonored or is overdue. Wyatt has the rights of Answer Selected Answer:
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Question 5 2.5 out of 2.5 points Edie signs a check payable to the order of First Federal Bank, filling in the blanks for the amount with the figures "$100" and "One thousand and 00/100 dollars." This check is payable in the amount of Answer Selected Answer: Question 6 2.5 out of 2.5 points Gina writes and signs a check payable to "Happy Market." Irma, Happy's manager, indorses the check "For deposit only." This is Answer Selected Answer: Question 7 2.5 out of 2.5 points Gasqard owes $6,000 in unpaid taxes. On the back of an old shirt, he executes an instrument for that amount that otherwise meets the requirements for negotiability. This instrument is likely Answer Selected Answer: Question 8 2.5 out of 2.5 points The party that holds an instrument "pay to the order of cash" is entitled to present the instrument for payment. Answer Selected Answer: Question 9 2.5 out of 2.5 points
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Fact Pattern 19-3 Ryley draws a check, on his account in Second National Bank in New York, payable to Tuner TV, Inc., in San Francisco. Tuner deposits the check in its account at US Bank. US deposits the check in the Federal Reserve Bank of San Francisco, which transfers it to the Federal Reserve Bank of New York.
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