Question

Suppose Lola possesses a negotiable instrument made "payable to the bearer". If she loses the instrument while rescuing a drowning puppy from a pond and Mike, the one who threw the puppy in the pond later finds the instrument, the Mike will:

	a.	be able to collect payment if properly presented.
	b.	be denied the payment since his bad act caused the problem.
	c.	be denied payment since he wa not the intended payee.
	d.	be denied payment because puppies are cute!.

Assume that Bob indorses a check that was payable to Cash by writing the words "Pay to Helen" on the back of the check and then signing his name. He has:

	a.	converted order paper to bearer paper.
	b.	converted bearer paper to order paper.
	c.	kept it order paper
	d.	kept it bearer paper.

Assume Alex acquires a negotiable instrument by indorsement in exchange for his promise to perform a service next month. According to the UCC when will he become a holder in due course?

	a.	when he takes possession of the instrument
	b.	when he performs the service.
	c.	when he promises to perform the service.
	d.	never

Even if one owns a fees simple absolute, their use of the property may be legally restricted by:

	a.	title insurance
	b.	zoning laws
	c.	notice race statutes
	d.	nothing

Loretta rents her apartment to Larry. If Loretta fails to fix a plumbing problem causing substantial leaking in the apartment despite several tenant complaints, she has probably breached:

	a.	the implied warranty of habitability
	b.	covenant of quiet enjoyment
	c.	warranty against waste
	d.	warranty of possession

Answer 1

Question-Suppose Lola possesses a negotiable instrument made "payable to the bearer". If she loses the instrument while rescuing a drowning puppy from a pond and Mike, the one who threw the puppy in the pond later finds the instrument, the Mike will:

Answer- The correct answer is Option A that is:

"be able to collect payment if properly presented"

As because any person holding a security or a bill of exchange made payable to bearer may collect the payment .Payable to bearer clearly means whoever holds it may collect the payment.

Note-Dear Student We are supposed to answer only 1 question at a time so please upload the rest of the Questions seperately.

Hope this helps!