Tina forges Vivian's indorsement on a promissory note and negotiates it to Ned. If Vivian subsequently ratifies Tina's act, both Tina and Vivian are liable to Ned on the note and Vivian's ratification relieves Tina from civil liability to Vivian.
Correct Answer:
Verified
Q17: A holder must actually have the instrument
Q18: "Order paper" is negotiated by delivery only.
Q19: The courts will never presume a negotiation
Q20: An indorsement "for deposit" is a collection
Q21: Jill issues a negotiable promissory note to
Q23: Jerry takes a $400 check to Primary
Q24: A negotiation may be valid to transfer
Q25: Ella induces Tammy, by fraud in the
Q26: The FTC upholds the preferential position enjoyed
Q27: An indorsement in trust creates a trust
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