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Unformatted text preview: by a mortgage” and still be negotiable. The mortgage does not affect rights and duties of the parties to the note, and it is not necessary to examine the mortgage document to determine the rights of the parties to the note. Problem 6 A check is considered negotiable if it is signed by the maker, unconditional, and is payable on demand. I believe that the statement on the memo section did not prevent the check from being payable on demand. Problem 9 I believe the bank should be held liable because they paid the wrong amount. The law states that words control figures except that if words are ambiguous figures control. The bank should have paid the written amount, and not the ambiguous figure....
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This note was uploaded on 03/28/2012 for the course ECON Microecono taught by Professor Bing during the Spring '12 term at Bergen Community College.
- Spring '12