Exam 24: A: The Function Creation of Negotiable Instruments

International Properties,Inc.(IPI),signs an instrument in favor of Financial Investments Corporation that includes the statement "IPI plans to pay this debt from the proceeds of the sale of the IPI Office Building in Montreal." This instrument is

(Multiple Choice)

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Question 21

To be negotiable,an instrument cannot be portable.

(True/False)

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Question 22

An order stating "please pay" is too courteous to create a negotia?ble instrument.

(True/False)

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Question 23

Gladys,the chief executive officer of Home Electrical,Inc. ,signs an in?strument by using a rubber stamp with her thumbprint on it.This instru?ment is

(Multiple Choice)

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Question 24

Will signs a check payable to "cash" and gives it to Yves.This check is

(Multiple Choice)

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Question 25

On the back of an envelope,Phoebe writes,"I promise to pay Quint or bearer $600 on de?mand.[Signed] Phoebe." What type of instrument is this? Is it nego?tiable? If not,why not?

(Essay)

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Question 26

A signature on a negotiable instrument must be made manually.

(True/False)

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Question 27

A certificate of deposit represents a loan by its owner to a bank.

(True/False)

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Question 28

A trade name can serve as a valid signature.

(True/False)

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Question 29

A trade acceptance is a promissory note.

(True/False)

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Question 30

Tyrone draws a check payable to "Cash" and presents it to Urban Bank for payment.This instrument is

(Multiple Choice)

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Question 31

An instrument that promises to pay "in goods" can be negotiable.

(True/False)

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Question 32

A negotiable instrument can function as an extension of credit.

(True/False)

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Question 33

An instrument that is "payable on presentment" is payable on demand.

(True/False)

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Question 34

On a cashier's check,the drawer is also the drawee.

(True/False)

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Question 35

Rupert owes $5,000 in unpaid taxes.Using the back of an old t-shirt,he exe?cutes an instrument for $5,000 that otherwise meets the re?quire?ments for negotiability.This instrument is most likely

(Multiple Choice)

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Question 36

Fact Pattern 24-1B Dominion Sales Ltd.in Canada and Eagle Buying Company in the United States enter a contract for a sale of forestry products.Dominion draws a draft unconditionally ordering Great Federal Bank,Eagle's bank,to pay $60,000 to Dominion's order in sixty days.Eagle signs and dates the draft. -Refer to Fact Pattern 24-1B.With respect to this instrument,Dominion is

(Multiple Choice)

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Question 37

Wilbur signs a note that includes a clause under which the note's holder can delay the date of its payment indefinitely.This is

(Multiple Choice)

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Question 38

Daria signs an instrument payable to the order of Employees Credit Union "on or before" June 15.This instrument is

(Multiple Choice)

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Question 39

Fact Pattern 24-1B Dominion Sales Ltd.in Canada and Eagle Buying Company in the United States enter a contract for a sale of forestry products.Dominion draws a draft unconditionally ordering Great Federal Bank,Eagle's bank,to pay $60,000 to Dominion's order in sixty days.Eagle signs and dates the draft. -Refer to Fact Pattern 24-1B.This instrument is

(Multiple Choice)

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Question 40

Showing 21 - 40 of 42

Exam 24: A: The Function Creation of Negotiable Instruments

International Properties,Inc.(IPI),signs an instrument in favor of Financial Investments Corporation that includes the statement "IPI plans to pay this debt from the proceeds of the sale of the IPI Office Building in Montreal." This instrument is

To be negotiable,an instrument cannot be portable.

An order stating "please pay" is too courteous to create a negotia?ble instrument.

Gladys,the chief executive officer of Home Electrical,Inc. ,signs an in?strument by using a rubber stamp with her thumbprint on it.This instru?ment is

Will signs a check payable to "cash" and gives it to Yves.This check is

On the back of an envelope,Phoebe writes,"I promise to pay Quint or bearer $600 on de?mand.[Signed] Phoebe." What type of instrument is this? Is it nego?tiable? If not,why not?

A signature on a negotiable instrument must be made manually.

A certificate of deposit represents a loan by its owner to a bank.

A trade name can serve as a valid signature.

A trade acceptance is a promissory note.

Tyrone draws a check payable to "Cash" and presents it to Urban Bank for payment.This instrument is

An instrument that promises to pay "in goods" can be negotiable.

A negotiable instrument can function as an extension of credit.

An instrument that is "payable on presentment" is payable on demand.

On a cashier's check,the drawer is also the drawee.

Rupert owes $5,000 in unpaid taxes.Using the back of an old t-shirt,he exe?cutes an instrument for $5,000 that otherwise meets the re?quire?ments for negotiability.This instrument is most likely

Wilbur signs a note that includes a clause under which the note's holder can delay the date of its payment indefinitely.This is

Daria signs an instrument payable to the order of Employees Credit Union "on or before" June 15.This instrument is

A: Introduction to Law and Legal Reasoning

B: Introduction to Law and Legal Reasoning

C: Introduction to Law and Legal Reasoning

D: Introduction to Law and Legal Reasoning

A: Courts and Alternative Dispute Resolution

B: Courts and Alternative Dispute Resolution

A: Court Procedures

B: Court Procedures

A: Constitutional Authority to Regulate Business

B: Constitutional Authority to Regulate Business

A: Ethics and Business Decision Making

B: Ethics and Business Decision Making

A: Intentional Torts and Privacy

B: Intentional Torts and Privacy

A: Negligence and Strict Liability

B: Negligence and Strict Liability

C: Negligence and Strict Liability

D: Negligence and Strict Liability

A: Intellectual Property and Internet Law

B: Intellectual Property and Internet Law

A: Criminal Law and Cyber Crimes

B: Criminal Law and Cyber Crime

A: Nature and Terminology

B: Nature and Terminology

C: Nature and Terminology

D: Nature and Terminology

A: Agreement in Traditional and E-Contracts

B: Agreement in Traditional and E-Contracts

A: Consideration

B: Consideration

A: Capacity and Legality

B: Capacity and Legality

A: Mistakes,fraud,and Voluntary Consent

B: Mistakes,fraud,and Voluntary Consent

A: The Statute of Frauds

B: The Statute of Frauds

A: Third Party Rights

B: Third Party Rights

A: Performance and Discharge

B: Performance and Discharge

A: Breach of Contract and Remedies

B: Breach of Contract and Remedies

A: The Formation of Sales and Lease Contracts

B: The Formation of Sales and Lease Contracts

C: The Formation of Sales and Lease Contracts

D: The Formation of Sales and Lease Contracts

A: Title,risk,and Insurable Interest

B: Title,risk,and Insurable Interest

A: Performance Breach of Sales Lease Contracts

B: Performance Breach of Sales Lease Contracts

A: Warranties and Product Liability

B: Warranties and Product Liability

A: International Law in a Global Economy

B: International Law in a Global Economy

B: The Function Creation of Negotiable Instruments

C: The Function Creation of Negotiable Instruments

D: The Function Creation of Negotiable Instruments

A: Transferability and Holder in Due Course

B: Transferability and Holder in Due Course

A: Liability,defenses,and Discharge

B: Liability,defenses,and Discharge