Which of the following was the ruling of the court in the Case Opener regarding the gambler who wrote bad checks to a casino to purchase markers and then tried to avoid payment on the basis of an oral agreement by which a casino host told the gambler that he already had sufficient remaining casino credit to receive the markers?
A) The potential oral agreement as to the markers was irrelevant to the negotiability of the checks.
B) The oral agreement was relevant to the negotiability of the checks, but it did not affect the gambler's liability on the checks.
C) The oral agreement was relevant to the negotiability of the checks and acted to excuse the gambler from liability on the checks.
D) The oral agreement established that the checks were not negotiable instruments.
E) The oral agreement established breach of contract; therefore, while another type of instrument would have been negotiable, the checks involved were not.
Correct Answer:
Verified
Q1: A note is a promise, by the
Q2: A contract that is personal or nonassignable
Q3: An instrument that merely mentions another document
Q4: A person who comes into possession of
Q6: An oral negotiable instrument is permitted under
Q7: Article 3 of the UCC recognizes three
Q8: If a third party never becomes involved
Q9: A note is an order by a
Q10: Which statement is true regarding negotiable instruments
Q11: A currency or cash substitute has existed
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