Justine owes Smithers a debt and wants to pay Smithers with a negotiable instrument.

Should Smithersaccept a negotiable or nonnegotiable instrument, and why?

Chapter 30

ESSAY

19.

Gonzales was a member of a union. He thought the union officials were paid a lot and thought his dues were excessive, but did not know anyone with authority in the union well. He really wanted to find out how the union was spending all the dues the members sent in. Is there any way he can find out about the financial activity of his union?

ESSAY

21.

What are the advantages of a sole proprietorship, a partnership and a corporation?

Chapter 39

ESSAY

23.

Martine bought a TV by means of a secured credit sale. She made the monthly payments for eight months and then defaulted. She still owed more than half the cash price of the set. The seller repossessed the goods and notified Martine that it planned to sell the TV set. Martine felt that she had put quite a bit of money into the purchase of the TV set and did not want to just lose the set and all she had paid. What might she do?

CHAPTER 40BANKRUPTCY

ESSAY

24.

Explain the effects of and how a bankruptcy case proceeds once a bankruptcy petition has been filed.