QUESTION 27

A defense in a product liability claim may be preemption.

True

False

QUESTION 28

A check may be a demand instrument or a time instrument.

True

False

QUESTION 29

The drawee is the party ordered to pay.

True

False

QUESTION 30

A check may be a bearer instrument or an order instrument.

True

False

QUESTION 31

A certificate of deposit is an order to pay.

True

False

QUESTION 32

A conditional indorsement will have no effect on the negotiability of an instrument.

True

False

QUESTION 33

All negotiable instruments must be payable on demand or at a particular time.