Chp 25 - Negotiable Instruments
1. To purchase office supplies for her medical clinic, Becky executes a draft in favor
of Sonya. A draft is
a. a promise to pay money.
b. a promise to deliver goods at a future dat
Chapter 28 Checks, the Banking System, and E-Money (Banking in the digital age)
First National Bank agrees to accept a check by setting aside sufficient funds
to cover the amount of the check. This check is considered
Chapter 27 Liability, Defenses, and Discharge
1. Signature liability is also referred to as _ liability.
2. Makers of promissory notes and certificates of deposit have
_ liability for instruments.
3. Drawers of checks and drafts and unqua
Chp. 9 - nature and terminology of contracts quiz
1. International Sales Corporation and National Distribution, Inc., enter into a contract without
an agreement concerning payment. This is
a. an express contract.
b. an implied-in-fact contract.
c. an impl
chp. 10 - Agreement Quiz - Law 1
1. Janet tries to start her car with no success. She yells in
desperation that she would sell the car to anyone for $100. Bill, a
passerby, hands Janet $100. Bills act
a. constitutes a valid acceptance.
b. constitutes a va