Chapter: 24.2B

Difficulty: 1

Type: Factual

9.

For an instrument to be negotiable, the writing is required to be:

.Completed on a form approved by the SEC.

b.Typewritten.

c.Signed.

d.Drafted under oath.

Chapter: 25.1A

Difficulty: 1

Type: Factual

10.

A negotiable instrument must contain the ______ to pay.

.

b.

c.

d.

Chapter: 25.1B

Difficulty: 1

Type: Factual

11.

A promise or order will be considered conditional when ______.

. of interest

b. of another agreement

c.

d. unambiguous

Chapter: 25.1C

Difficulty: 1

Type: Conceptual

12.

Which of the following qualifies as a negotiable instrument under the particular fund doctrine?

.A check that indicates it will be paid out of account #234567 First Bank.

b.A note that states: "I promise to pay Alice $500 only out of the profits from my yard sale."

c.A note that states: "I promise to pay to the order of Alice $500 only out of the profits from my yard sale."

d.Each of these examples would be negotiable.

Chapter: 25.1D

Difficulty: 2

Type: Conceptual

13.

For an instrument to be negotiable, makers must pledge:

.A particular type of fund.

b.Their general credit.

c.Interest payments.

d.Attorney's fees in the event of collection proceedings.