Exam 27: Liability of Parties
Exam 1: Introduction to Law78 Questions
Exam 2: Business Ethics67 Questions
Exam 3: Civil Dispute Resolution101 Questions
Exam 4: Constitutional Law114 Questions
Exam 5: Administrative Law76 Questions
Exam 6: Criminal Law90 Questions
Exam 7: Intentional Torts104 Questions
Exam 8: Negligence and Strict Liability164 Questions
Exam 9: Introduction to Contracts73 Questions
Exam 10: Mutual Assent96 Questions
Exam 11: Conduct Invalidating Assent77 Questions
Exam 12: Consideration84 Questions
Exam 13: Illegal Bargains66 Questions
Exam 14: Contractual Capacity75 Questions
Exam 15: Contracts in Writing82 Questions
Exam 16: Third Parties to Contracts82 Questions
Exam 17: Performance, Breach, and Discharge68 Questions
Exam 18: Contract Remedies93 Questions
Exam 19: Introduction to Sales and Leases62 Questions
Exam 20: Performance59 Questions
Exam 21: Transfer of Title and Risk of Loss67 Questions
Exam 22: Product Liability: Warranties and Strict Liability70 Questions
Exam 23: Sales Remedies107 Questions
Exam 24: Form and Content67 Questions
Exam 25: Transfer70 Questions
Exam 26: Holder in Due Course68 Questions
Exam 27: Liability of Parties73 Questions
Exam 28: Bank Deposits, Collections, and Funds Transfers90 Questions
Exam 29: Relationship of Principal and Agent83 Questions
Exam 30: Relationship With Third Parties100 Questions
Exam 31: Formation and Internal Relations of General Partnerships70 Questions
Exam 32: Operation and Dissolution of General Partnerships66 Questions
Exam 33: Limited Partnerships and Limited Liability Companies70 Questions
Exam 34: Nature and Formation of Corporations80 Questions
Exam 35: Financial Structure of Corporations81 Questions
Exam 36: Management Structure of Corporations98 Questions
Exam 37: Fundamental Changes of Corporations130 Questions
Exam 38: Secured Transactions and Suretyship80 Questions
Exam 39: Bankruptcy133 Questions
Exam 40: Securities Regulation93 Questions
Exam 41: Intellectual Property79 Questions
Exam 42: Employment Law101 Questions
Exam 43: Antitrust80 Questions
Exam 44: Accountants Legal Liability67 Questions
Exam 45: Consumer Protection80 Questions
Exam 46: Environmental Law71 Questions
Exam 47: International Business Law102 Questions
Exam 48: Introduction to Property, Property Insurance, Bailments, and Documents of Title83 Questions
Exam 49: Interests in Real Property79 Questions
Exam 50: Transfer and Control of Real Property86 Questions
Exam 51: Trusts and Wills102 Questions
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Mark gives a bearer note for $50 to Joe in exchange for an excellent dinner at Joe's restaurant.Joe delivers the note to Sue for $50 and Sue takes it to Mark to be paid.If Mark says the note was originally written for only $5, what can Sue do?
(Multiple Choice)
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Zelda signs a promissory note for $500 to First Bank.At the request of both Zelda and the bank, Ann also signs the note as an accommodation maker.In this situation:
(Multiple Choice)
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A drawee bank's refusal to certify a check constitutes dishonor of the instrument.
(True/False)
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An unauthorized signature cannot be ratified by the person whose name appears on the instrument.
(True/False)
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An unauthorized signature may bind a principal who allowed the signature to be made through his own negligence.
(True/False)
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An accommodation party will always be primarily liable on an instrument.
(True/False)
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Bob took a check written by Jack to Jack's bank to be certified.The bank stamped "Certified" on it and gave it back to Bob.What consequence?
(Multiple Choice)
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Which of the following is true of warranty liability as it affects negotiable instruments?
(Multiple Choice)
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Zoron Company purchased a truck from Ace Motors.The sales personnel at Ace know that Anton Green is an executive at Zoron.To pay for the truck, Anton delivered a $25,000 note to Ace.If he signed it "Anton Green, Agent":
(Multiple Choice)
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When a severe weather warning has been declared, a delay in notice is excused to the reasonably diligent holder who was prevented from posting the notice.
(True/False)
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Sarah has a checking account at First Bank.Orrin steals one of her blank checks, writes a check for $250, and then forges Sarah's signature.He then presents the check to First Bank for payment.First Bank pays the forged instrument.Which of the following statements is correct?
(Multiple Choice)
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An accommodation party is a direct beneficiary of the value received from lending her credit on an instrument.
(True/False)
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Failure to give notice of dishonor will discharge the drawer of a draft accepted by a nonbank from having to pay on the instrument unless notice is excused.
(True/False)
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The condition precedent to the liability of the drawer of an unaccepted draft is notice of dishonor.
(True/False)
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Under Revised Article 3, the drawer's liability is contingent upon dishonor and notice of dishonor.
(True/False)
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