26. In order to stop a pre~authorized transfer under the E F T Act, the bank must be notied ' orally or in writing at least ve days in advance. 27'. The holder of a promissory note may extend the time for payment indenitely. 23 Any irregularity on the face of a negotiable instrument that calls into question its validity or terms of ownership or creates an ambiguity, will bar H D (3 status. ' 29 A payee or indorsce whose name is mis spelled, can indorse with the mis spelled name, the correct name, or both. ' ' 30 I When a holder collects the amount of an instrtunent from an indorser, the indorser has no . right of recourse against prior indorsers, the maker or drawer or accommodation parties; FOR THE FoLLovmvo QUEsTIorts. INDICATE on yous. TEST QUESTION SHEET THE SELECTION.-. . .. - . - 31. Iv'y signs a check payable to John and gives it to him. John indorses the backof the check and transfers it to Ken. To negotiate the check to Luis, Ken must ; - (a) Write \"Ken\" on the hack. _ { b ) Write \"pay to order of Luis" and then sign \"Ken\" . { c } Deliver the check to Luis. [I d ) Obtain Luis's signature on the back of the check. _ ( e ) None of the above. 32. Jill, in good faith , for value and without notice, gets from Kim a check \"payable to the - order of bearer\". Jill does not know that Kim stole the check. Jill is : ( a) an H D. C. I If h J not an H D C, because Kim did not acquire the check for value. ' ( c j: not an H D (3, because Kim did not acquire the check in good faith. ( d J not an H D C, because the check is a bearer instrument. ( e ) None of the above. 33. Derby Stables writes a check to Extend Credit Inc. that is drawn on Derby's account at Farm Bank. If the bank does not accept the check, liability for its amount is on : ( a } Derby. - ( b } Extend Credit [f o ) Farm Bank . L\" d ) the holder of the check {' c } None of the above