41. State securities laws

a.are known as blue sky laws.

b.were implicitly repealed by federal securities law in 1934.

c.are rarely enforced because of federal securities law.

d.impose no criminal penalties for violation.

42.A without recourse indorsement

a.relieves the indorser of liability for the checks payment.

b.cannot be made on a post-dated check.

c.relieves the indorser of liability for the checks payment for 30 days after the indorsement.

d.can be treated as dishonoring a check.

43.A blank indorsement

a.creates a bearer instrument.

b.cannot follow and unqualified indorsement on a check.

c.creates an order instrument.

d.is not permitted in some (non-UCC) states.