FOR THE FOLLOWING QUESTIONS, INDICATE ON YOUR TEST QUESTION SHEET WHETHER THE ANSWER IS TRUE OR FALSE.

19 Suppose that John executes a promissory note on behalf of his partnership, Murah Beer Company in favor of Dick. If Dick later indorses the note to Jane who then indorses it to Mary then Mary will be entitled to present the note for payment to John or any of the other partners of Murah Beer Company

20. Suppose that Henry impersonates a famous comedian and goes into a shop and convinces the shopkeeper to issue a check to him in the name of the famous comedian, purportedly as part of a fundraising campaign for a new hospital. If Henry negotiates the check to a check cashing store by signing the name of the comedian, then the shop keeper will be able to stop payment on the grounds of forgery.

21. Assume that Jane writes a check to cover a $ 300 payment to Carl, a landscaper who

performed services at Jane's residence but she fails to fill in the amount on the check. If Carl decides that his performance was actually worth $3,000 and alters the check accordingly before cashing it, then Jane will be able to compel her bank to re-credit her account for $ 2,700 even though the bank paid the item in good faith.

22. AUS government issued check or draft must be presented for payment within six months from date of issuance.

23. Order paper may be converted to bearer paper but bearer paper may not be converted to order paper.

24. The Statute of Limitations for warranty liability" of a negotiable instrument is six years.

25. In the event of a conflict between numbers and words on a negotiable instrument, numbers control unless they are unclear or ambiguous.

26. In order to stop a pre-authorized transfer under the EFT Act, the bank must be notified orally or in writing at least five days in advance.