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Business
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Business Law
Quiz 26: Liability For Negotiable Instruments
Path 4
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Question 1
True/False
Nelson writes Leah a check for mowing his lawn.Leah deposits the check in her bank,but it is not paid by Nelson's bank.Leah calls Nelson to notify him that her bank returned his check to her unpaid.Leah's notice of the dishonor is insufficient; she must provide written notice.
Question 2
Multiple Choice
The Gulf States Section,PGA,Inc.v.Whitney National Bank of New Orleans case addressed liability on a negotiable instrument:
Question 3
True/False
Negotiable instruments are normally issued to fulfill a contract.
Question 4
Multiple Choice
All but which of the following serves as a discharge of a negotiable instrument:
Question 5
True/False
An accommodation party and a co-maker of a note have the same liability on an instrument.
Question 6
True/False
Drawers and indorsers are secondarily liable on negotiable instruments.
Question 7
Multiple Choice
At the time a check is issued,primary liability falls on:
Question 8
True/False
Maurina is an agent of Southland,and she is authorized to sign checks on Southland's bank account.If Maurina signs a check without indicating that she is simply an agent,Maurina will be personally liable on the check.