Multi 1
Roberto voided a check he had written. This is an example of which mode of discharge?
What is cancellation?
What is the act of a person who is the holder of a negotiable instrument signing his or her name on the instrument, thereby transferring title or ownership?
What is endorsement?
What is not a function of negotiable instruments?
What is a conditional contract replacement?
A document guaranteeing the payment of a specific amount of money to a specified person or assignee.
What is a negotiable instrument?
What justifications for a maker or drawer not to honor a negotiable instrument even if it has been transferred to a holder in due course?
What is real defense?
What bill of exchange is payable upon being presented to the payee or upon acceptance?
What is sight draft?
What is an example of a real defense?
What is void contract?
How many parties are normally involved when using a check?
What is 3?
A holder who has taken the instrument under the following conditions: instrument is complete and regular upon its face, individual became the holder before it was overdue, individual took it in good faith and for value and at the time it was negotiated, the individual had no notice of any infirmity in the instrument or defect in the title of the person negotiating it.
What is a holder in due course?
What is an instrument containing an unconditional order, signed by the maker, directing a party to pay a certain sum of money only to, or to the order of, a certain party or to the bearer of the instrument?
What is bill of exchange?
What, if included, permits the date of maturity to be extended?
What is extension clause?
What method of writing is not recommended when drawing a negotiable instrument?
What is a pencil?
Which type of discharge involves the holder of an instrument at or after its maturity absolutely and unconditionally renouncing in writing and giving up their right against all the parties to the instrument?
What is an express waiver?
Who is required to pay by the terms of the instrument itself and their liability is unconditional?
what is primary parties?
Whose liability is conditional, arising only if the primarily liable party fails to pay?
What is secondary parties?
What describes an instrument which is payable at a definite time or after a specific amount of time?
What is a time instrument?
What is an example of a personal defense?
What is a breach of contract?
What is not a mode of discharge?
What is holder alteration?
What is an act of a person who is holder of a negotiable instrument signing his or her name on the instrument, thereby transferring title or owner?
What is an endorsement?
What bill of exchange drawn on a drawer’s specified financial institution to be payable to the payee?
What is a check?
What is a bill of exchange drawn on a drawer’s specified financial institution to be payable to the payee?
What is a check?
What is not a requirement for negotiability?
What must contain a condition to payment?
What is not a requirement of a negotiable instrument?
What must contain a conditional promise?
What generally defenses applicable to the underlying agreement or between the original parties to the underlying agreement?
What is personal defenses?