Business Law - 1.,itmustbeinwriting(Points:3 True False 2.(Points:3 True False 3.Tobenegotiable,(Points:3 True False 4.Abearerinstrumen

Business Law - 1.,itmustbeinwriting(Points:3 True False...

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1.  For an instrument to be negotiable, it must be in writing. (Points : 3)         True         False  2.  Rubber stamp signatures can be legally binding signatures. (Points : 3)         True         False  3.  To be negotiable, an instrument must include an unconditional promise to pay. (Points : 3)         True         False  4.  A bearer instrument is negotiated by delivery alone. (Points : 3)         True         False  5.  An indorsement is required to negotiate an order instrument. (Points : 3)         True         False  6.  A blank indorsement can consist of a mere signature. (Points : 3)         True         False  7.  For an ordinary holder to become an HDC, the person from whom the holder acquired a negotiable instrument must have  acted in good faith. (Points : 3)         True         False  8.  A customer who fails to examine a bank statement and report a forged signature may be liable for later forgeries by the  same wrongdoer. (Points : 3)         True         False  9.  To obtain office supplies for All-Care Medical Clinic, Britney executes a draft in favor of Chris. A draft is (Points : 3)        a conditional promise to pay money.       an unconditional written order to pay money.       a qualified promise to set aside a sum of money.       a restricted promise to deliver goods at a future date. 10.  Ray signs a promissory note for $10,000 in favor of State University (SU). The note does not specify the date of its  payment. Ray defaults. In SU's suit to collect on the note, the court will most likely rule in favor of (Points : 3)        Ray, because SU assumed the risk that the note would not be paid.       Ray, because the note is not payable at a definite time or on demand.       SU, because the note is an unconditional promise to pay the holder.       SU, because there is a uniform "default time" for repayment when a date is not specified. 11. Bill signs a check payable to the order of City 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 (Points : 3)        $0.
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      $100.       $1,000.       $1,100. 12.  Dina signs a check payable to Evan, who indorses the back, gives it to First State Bank, and receives cash. The transfer  of the check from Evan to the bank is (Points : 3)        an assignment and a negotiation.
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