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Conversion of an instrument: Multiple Choice is an authorized assumption and exercise of ownership over it. may occur if a person pays an instrument on

Conversion of an instrument:

Multiple Choice

  • is an authorized assumption and exercise of ownership over it.

  • may occur if a person pays an instrument on a forged indorsement.

  • differs from conversion of personal property with respect to the applicable laws.

  • occurs if it does not lack indorsement necessary for negotiation.

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