An instrument must be signed to qualify as a negotiable instrument.Which of the following statements is true of this basic requirement?
A) An instrument in the form of a note must be signed by the payee who accepts the promise of the issuer.
B) An instrument in the form of a draft must be signed by the person giving the instruction to pay.
C) An instrument is considered to be negotiable only when the maker signs by writing his name on it.
D) A person or company cannot authorize an agent to sign instruments for it.
Correct Answer:
Verified
Q29: Which of the following would qualify as
Q30: A note in which the maker promises
Q31: Richard borrowed $100 from his friend,Leonard Smith.Richard
Q32: Emily Henrik residing in the state of
Q33: A holder in due course takes the
Q35: Which of the following instruments is negotiable?
A)A
Q36: The FTC has adopted a regulation that:
A)follows
Q37: A teller's check:
A)is a draft drawn by
Q38: If an instrument is nonnegotiable:
A)the Code controls
Q39: The promise or order in an instrument
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