Exam 26: Negotiable Instruments: Negotiability and Transferability

In the United States, which statement is true regarding the type of currency needed to satisfy the currency requirement for negotiability in the United States?

Negotiable instruments payable to whoever is bearing them are known as ________ instruments.

A person who comes into possession of a bearer instrument by theft cannot claim the payment due on it.

Which of the following is assumed by the UCC if an instrument is silent as to the time of payment?

Disregarding the issue of whether Sophie properly performed, is the statement "I, Reza Salehi, promise to pay Sophie Smith or to bearer, the sum of $100 on Monday, July 22, 2016," without a signature anywhere else on the document, sufficient to satisfy the signature requirement of negotiability?

Which is the correct term for a promise made by a bank to pay a payee a certain amount of money at a future time?

Which of the following is true regarding whether an agent's signature may satisfy the requirement of negotiability that the signature of a maker or drawer appear?

A negotiable instrument must be a conditional order to pay.

Which term refers to the time it takes for a check to go through the traditional check-clearing process and be paid?

[Auto Repair] Sam writes a check from his checking account with Banking International to pay Auto Repair for service work it performed on his vehicle. -Under the UCC, what title does Sam hold?

As a general rule under UCC 3-103(a)(9), the promise or order to pay within a negotiable instrument must be ________ and not ________.

With a demand instrument, the ________ can demand actual payment at any time.

Which of the following is not a negotiable instrument?

Which of the following is the most likely result if Mehdi attempts to require that the bank reimburse him for the value of the check cashed by Caileen?

Which statement is true regarding negotiable instruments in the European Union?

The UCC requirement that the signature of the creator appear in order for an instrument to be negotiable can be satisfied by an automated signature.

A contract that is personal or nonassignable cannot be classified as commercial paper.

Which of the following is true regarding payment on a time instrument?

Which of the following was the ruling of the court in the Case Opener regarding the gambler who wrote bad checks to a casino to purchase markers and then tried to avoid payment on the basis of an oral agreement by which a casino host told the gambler that he already had sufficient remaining casino credit to receive the markers?

Which of the following are not associated with an instrument known as a traveler's check?