Multiple Choice
In order for an instrument to be negotiable,the promise or order to pay must be ________ and not ________.
A) general; expressed
B) specific; implied
C) general; implied
D) specific; expressed
E) equivocal; affirmative
Correct Answer:
Verified
Correct Answer:
Verified
Q10: The Uniform Commercial Code requires a bank
Q11: In the check collection process,the depositary bank
Q12: The Uniform Commercial Code requires an "instrument
Q13: With a demand instrument,payment can be made
Q14: What does the Truth-in-Savings Act require regarding
Q16: A promise made by a bank to
Q17: Which of the following are examples of
Q18: A(n)_ is a person receiving an endorsement.<br>A)bailor<br>B)transferor<br>C)transferee<br>D)endorser<br>E)endorsee
Q19: Instruments bearing joint payees require the endorsement
Q20: Set forth the six requirements for an