Question 30 1 pts To finance the purchase of an electric guitar. Milos signs an instrument promising to pay to "National Lenders" $1,800 with interest in installments with the final payment due August 15, 2018. To be negotiable, this instrument must include on its face no conditions O any conditions to the disbursement of the funds. any conditions on the sale of the goods. O any conditions to the repayment of the loan Question 31 1 pts Jane signs an instrument using a "J' with a swirl around it. With this mark for a signature, the instrument is not negotiable, because an initial is not a signature not negotiable, because an initial is not state the signer's name. negotiable not negotiable, because an initial is not an indication of serious intent Question 32 1 pts Alvin signs a promissory note payable to the order of Borrow & Spend Loan Company. The note states that it is payable with interest at the legal rate." This note is not negotiable, because it is payable only with interest. negotiable not negotiable because it does not specify a rate of interest. not negotiable, because it is a promissory note. D Question 33 1 pts On behalf of WeedMaps, Kent signs a promissory note in which Kent promises to deliver 100 marijuana buds to GrubHub on April 1, in exchange for GrubHub delivering food every night for two weeks. This instrument is not negotiable, because marijuana buds are not a medium of exchange authorized or adopted by a government as currency not negotiable, because marijuana buds are not a medium of exchange authorized or adopted by a government as currency negotiable not negotiable, because marijuana buds are not a medium of exchange authorized or adopted by a government as currency Question 34 1 pts Lucas signs an instrument payable to the order of MoneyNow, Inc., that allows a holder to demand payment of the entire amount due, with interest, it Lucas fails to make a payment. This instrument is nonnegotiable, because the exact payment date cannot be determined from the face of the instrument. negotiable nonnegotiable, because a holder can move up the payment date. nonnegotiable, because moving up the payment date is conditional. Question 35 1 pts Oren signs an instrument payable to the order of Pay Out Loans, Inc., "on or before June 15. This instrument is not negotiable, because moving up the payment date is optional negotiable not negotiable, because the exact payment date cannot be determined from the face of the instrument not negotiable because the maker can move up the payment date. D Question 36 1 pts An instrument can only be transferred by negotiation, True O False Question 37 1 pts A special indorsement does not specify a particular indorsee. False True Question 38 1 pts A bearer instrument can be converted into an order instrument through indorsement, True False Question 39 1 pts On the back of a check payable to Nero, he writes "Pay to Odell, without recourse and signs it. This O renders the check nonnegotiable. relieves Nero of liability on the check relieves Odell of liability on the check does not effect the check's negotiability or any party's liability Question 40 1 pts Emily writes and signs a check payable to "Five Star Cinema." George. Five Star's manager, indorses the check "For deposit only." This is a qualified indorsement a blank Indorsement O restrictive Indorsement a special Indorsement
