004 SHORT QUIZ Negotiation.docx - Week 5 Negotiation Short Quiz 004 An which purports to transfer to the a part only of the amount payable operate as a

004 SHORT QUIZ Negotiation.docx - Week 5 Negotiation Short...

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Week 5: Negotiation - Short Quiz 004 An _______________ which purports to transfer to the ______ a part only of the amount payable ________ operate as a negotiation of the instrument. a. indorsement, indorsee, does not b. agreement, indorser, may not c. instrument, negotiator, may d. act, maker, does Statement 1. Conditional indorsement is an indorsement which is subject to a happening or a condition. Statement 2. An indorser is not liable unless there are presentment and notice of dishonor, while an assignor is liable even without notice of dishonor. a. Statement 1 is false: Statement 2 is false b. Statement 1 is true; Statement 2 is true c. Statement 1 is false: Statement 2 is true d. Statement 1 is true: Statement 2 is false Statement 1. Indorsementcannot be written at the front of the instrument. Statement 2. Qualified Indorsement specifies the person to whom or to whose order the instrument is to be payable. The indorsee is necessary for the further negotiation of the instrument if the instrument is an order instrument.
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  • Fall '20
  • Negotiable instrument, a. indorsement

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