Which statement is true regarding negotiation of an instrument?
A) Negotiation of an order instrument is by endorsement plus delivery,while negotiation of a bearer instrument is by delivery alone.
B) Negotiation of a bearer instrument is by endorsement plus delivery,while negotiation of an order instrument is by delivery alone.
C) Negotiation of both an order instrument and bearer instrument is by delivery alone.
D) Negotiation of both an order instrument and a bearer instrument requires both delivery and an additional three days to allow for bank clearance.
E) Negotiation of both an order instrument and bearer instrument require endorsement plus delivery.
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: Which of the following was the ruling
Q10: An instrument that merely mentions another document
Q13: In order to satisfy the requirement of
Q14: All negotiable documents should be in electronic
Q14: Which of the following is true regarding
Q15: The UCC requirement that the signature of
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