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QUESTION 27 Ron issues a draft telling Bob to pay $1,000 to the order of Pete on July 10, 2020. If Pete wants to have
QUESTION 27 Ron issues a draft telling Bob to pay $1,000 to the order of Pete on July 10, 2020. If Pete wants to have the draft "accepted" on May 28, 2020, what should he do on that date? a. Ask Ron to sign it on the back. b. Ask Bob to sign it on the back. C. Ask Bob to sign it on the front. O d. Ask Bob to write "without recourse" anywhere on the instrument. e. Ask Bob to pay him the money on that date. QUESTION 28 Cindy is the HDC of a negotiable note issued by Barbara for $1,000. Barbara is only 17 years old. When Cindy presents Barbara's negotiable note to her for payment on the due date, Barbara refuses to pay claiming she has the right to refuse as a minor. True or False: Barbara is raising a "real" defense, so even though Cindy is an HDC she will not get paid. True False QUESTION 29 True or False: The following item, by itself, would violate a negotiability test: The instrument calls for payment "on May 3, 2027 or, if sooner, upon the death of Ben Sims. True False
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