MATCHING
Part V Matching
Match each statement with the correct term below.a.An order to pay a fixed sum of money, signed by a drawer, payable on demand or at a definite time.b.A specialized form of draft; an order to pay money drawn on a bank and payable on demand.c.Legal concept that makes written instruments freely transferable and therefore a readily accepted substitute for money.d.An instrument that is payable to the possessor; a check that is made payable to cash or that is indorsed in blank.e.A person who is in possession of an instrument drawn, issued, or indorsed to him or to his order, or to bearer or in blank.f.An indorsement that specifies no indorsee and may consist of merely the signature of the indorser or her authorized agent.g.Issuer of a promissory note or CD.h.A written acknowledgement by a bank of the receipt of money that it promises to repay; a specialized form of promise to pay money that is given by a bank.i.A person or organization to whom a draft is directed and who is ordered to pay the amount of money specified therein; the bank on which a check is drawn.j.Issuer of a check or draft; the person on whose account a draft is drawn.k.An indorsement that attempts to limit the rights of the indorsee in some fashion.l.Signature that identifies an indorsee to be paid; makes the instrument order paper.m.The person to receive payment by an instrument..n.Defenses to liability on a negotiable instrument which are good against holders unless they are holders in due course.o.An instrument involving two parties, one of whom promises to pay the second a stated sum of money either on demand or at a stated future date.p.Person who signs an instrument to lend her credit to another party to the instrument.q.The transferee of an instrument acquires the same rights in the instrument as the transferor had.r.Acceptance of a check by a bank.s.Drawee which agrees to become primarily liable on a draft.t.An instrument that requires both transfer of its possession and indorsement by the appropriate parties for the transferee to become a holder.u.Defenses good against all holders, including holders in due course.
-order paper

Question

Quizplus · Accepted Answer

The Answer of MATCHING
Part V Matching
Match each statement with the correct term below.a.An order to pay a fixed sum of money, signed by a drawer, payable on demand or at a definite time.b.A specialized form of draft; an order to pay money drawn on a bank and payable on demand.c.Legal concept that makes written instruments freely transferable and therefore a readily accepted substitute for money.d.An instrument that is payable to the possessor; a check that is made payable to cash or that is indorsed in blank.e.A person who is in possession of an instrument drawn, issued, or indorsed to him or to his order, or to bearer or in blank.f.An indorsement that specifies no indorsee and may consist of merely the signature of the indorser or her authorized agent.g.Issuer of a promissory note or CD.h.A written acknowledgement by a bank of the receipt of money that it promises to repay; a specialized form of promise to pay money that is given by a bank.i.A person or organization to whom a draft is directed and who is ordered to pay the amount of money specified therein; the bank on which a check is drawn.j.Issuer of a check or draft; the person on whose account a draft is drawn.k.An indorsement that attempts to limit the rights of the indorsee in some fashion.l.Signature that identifies an indorsee to be paid; makes the instrument order paper.m.The person to receive payment by an instrument..n.Defenses to liability on a negotiable instrument which are good against holders unless they are holders in due course.o.An instrument involving two parties, one of whom promises to pay the second a stated sum of money either on demand or at a stated future date.p.Person who signs an instrument to lend her credit to another party to the instrument.q.The transferee of an instrument acquires the same rights in the instrument as the transferor had.r.Acceptance of a check by a bank.s.Drawee which agrees to become primarily liable on a draft.t.An instrument that requires both transfer of its possession and indorsement by the appropriate parties for the transferee to become a holder.u.Defenses good against all holders, including holders in due course.
-order paper

MATCHING Part V Matching