mination The best answer and indicate directly on the cam 1. Bankruptcy is a universal defense. TRUE FALSE 2. In a jurisdiction that states that all contracts by miners are void a defense of minority against payment of a negotiable instrument will be a personal defense. TRUE FALSE 3. Buying a negotiable instrument of a judicial auction is considered value for purposes of becoming a Holder in Due Course. TRUE FALSE 4. Personal defenses are used to avoid payment to an ordinary holder of a negotiable instrument, but not to an HDC or a holder through an HDC TRUE FALSE 5 Joc laves his checkbook in a safe that is locked and he leaves the stamp that he uses to sign checks in a different locked sale. Someone breaks in, torches both safes and pets the checkbook and stamp. When the forged checks come in, Joe has a defense against payment that is 2 a personal defense h not going to be upheld by a court ca universal defense dan indorsement Symour writes a check on his account at Platinum Bank to Teri to pay a debt. Teri ncgotiates the check by Indecent Rosanna who presents it for payment to Onyx Bank. Teri not liable for payment under any circumstances. b primarily liable. c secondarily liable. simultaneously liable. 7. Refer to act Pattem directly above. Ir Onyx Rank dishones the check, Rosanna can obtain payment from Teri if Rosanna timely notifies Teri only if Seymour refuses to pay the check. under any circumstances. d under no circumstances 8. To bomow the money to buy a car, Klaus signs a note payable to the order of Lake City Auto Financing Mini signs the note to guarantee the repayment of the loan. Minnie's liability on this note is lateral b primary secondary d. tertiary 9. Chris tricks Dion, who does not understand English, to sign a $1.000 note that Dion believes is an application for a credit card Chris negotiates the note to EZ Finance Company, Dion a can avoid payment on the note even if Ez is an HDXC can avoid payment on the not only if Ez is a holder must pay EZ the amount that it paid for the note d must pay the note in full 10. Dandy Lyin Furniture Store bomow $100.000 at 6 percent interest from Easy Loan Company and signs promissory note for that amount. Easy changes the amount of the note to S120,000 and increases the rate to percent. Fas materially altered the note when it changed seither the amount or the interest rate the amount but not when it changed the interest rate the note was not materially altered d the interest rate but not when it changed the amount c either the amount or the interest rate, both are considered material mination The best answer and indicate directly on the cam 1. Bankruptcy is a universal defense. TRUE FALSE 2. In a jurisdiction that states that all contracts by miners are void a defense of minority against payment of a negotiable instrument will be a personal defense. TRUE FALSE 3. Buying a negotiable instrument of a judicial auction is considered value for purposes of becoming a Holder in Due Course. TRUE FALSE 4. Personal defenses are used to avoid payment to an ordinary holder of a negotiable instrument, but not to an HDC or a holder through an HDC TRUE FALSE 5 Joc laves his checkbook in a safe that is locked and he leaves the stamp that he uses to sign checks in a different locked sale. Someone breaks in, torches both safes and pets the checkbook and stamp. When the forged checks come in, Joe has a defense against payment that is 2 a personal defense h not going to be upheld by a court ca universal defense dan indorsement Symour writes a check on his account at Platinum Bank to Teri to pay a debt. Teri ncgotiates the check by Indecent Rosanna who presents it for payment to Onyx Bank. Teri not liable for payment under any circumstances. b primarily liable. c secondarily liable. simultaneously liable. 7. Refer to act Pattem directly above. Ir Onyx Rank dishones the check, Rosanna can obtain payment from Teri if Rosanna timely notifies Teri only if Seymour refuses to pay the check. under any circumstances. d under no circumstances 8. To bomow the money to buy a car, Klaus signs a note payable to the order of Lake City Auto Financing Mini signs the note to guarantee the repayment of the loan. Minnie's liability on this note is lateral b primary secondary d. tertiary 9. Chris tricks Dion, who does not understand English, to sign a $1.000 note that Dion believes is an application for a credit card Chris negotiates the note to EZ Finance Company, Dion a can avoid payment on the note even if Ez is an HDXC can avoid payment on the not only if Ez is a holder must pay EZ the amount that it paid for the note d must pay the note in full 10. Dandy Lyin Furniture Store bomow $100.000 at 6 percent interest from Easy Loan Company and signs promissory note for that amount. Easy changes the amount of the note to S120,000 and increases the rate to percent. Fas materially altered the note when it changed seither the amount or the interest rate the amount but not when it changed the interest rate the note was not materially altered d the interest rate but not when it changed the amount c either the amount or the interest rate, both are considered material
