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 oral agreement established breach of contract;therefore,while another type of instrument would have been negotiable,the checks involved were not.
B) The oral agreement was relevant to the negotiability of the checks,and acted to excuse the gambler from liability on the checks.
C) The oral agreement established that the checks were not negotiable instruments.
D) The potential oral agreement as to the markers was irrelevant to the negotiability of the checks.
E) The oral agreement was relevant to the negotiability of the checks,but it did not affect the gambler's liability on the checks.
Correct Answer:
Verified
Q2: A contract that is personal or nonassignable
Q4: Acceptable words of negotiability include the words
Q6: A draft is an order by a
Q7: Article 3 of the UCC recognizes three
Q8: If a third party never becomes involved
Q9: Which statement is true regarding negotiation of
Q10: An instrument that merely mentions another document
Q13: In order to satisfy the requirement of
Q14: All negotiable documents should be in electronic
Q15: The UCC requirement that the signature of
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