Exam 26: Form and Content

To be negotiable, the instrument must satisfy all except which one of the following requirements?

The person who signs a note and promises to pay it is the maker.

Which of the following is true of the "order to pay" requirement of a negotiable instrument?

Postdating an instrument will destroy its negotiability.

A cashier's check is drawn by a bank upon itself to the order of a named payee.

Which of the following will destroy negotiability?

The Code section which sets forth the requirements that must be met for an instrument to be negotiable is:

Amanda goes to American Bank where she uses $2,000 of her savings to purchase a six-month certificate of deposit.In this case:

Carol buys some items at Friendly Drugstore and writes a check to the store on her account at First Bank.Who is the drawee?

A draft is payable "to the order of Joe Jones or to bearer." Sally finds it and demands payment.Should the drawer pay Sally?

A time draft is one payable upon demand (at the time it is presented to the drawee).

Which of the following is correct with respect to the fixed amount requirement of negotiability under Revised Article 3?

The Code provides that which of the following provisions may be included in an instrument without adversely affecting negotiability?

Notes and certificates of deposit are orders to pay money to a third person.

To be negotiable, an instrument must be in writing.

Under the law of assignments, the assignee stands in the shoes of the assignor.

Payment to a named payee by a bank with a check drawn on itself is a:

Which of the following will destroy negotiability?

A form of time draft known as a trade acceptance is used as a credit device in commercial transactions.

An instrument which is ambiguous as to whether it is a draft or note, such as, "To A: On demand I promise to pay $200 to the order of B.Signed, C" must be treated as a note and be presented to C for payment.