A person who makes a completely executory promise,in return for a negotiable instrument,has given value for it.
Correct Answer:
Verified
Q1: In qualified indorsement,the indorser accepts the liability
Q2: A person cannot be a holder in
Q3: Generally,real defenses arise out of the transaction
Q7: Indorsements that state a condition to the
Q12: Order paper that is indorsed in blank
Q13: On June 1,Mike writes a check payable
Q17: Anyone other than a bank,who purchases a
Q18: An individual must be acting in good
Q19: Value is identical to simple consideration.
Q20: An indorsement is a signature of the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents