QUESTION 33 All negotiable instruments must be payable on demand or at a particular time. True False
QUESTION 34 A promise to pay in the future is sufficient value to be a holder In due course. True False
QUESTION 35 Drawers and acceptors have primary signature liability. True False
QUESTION 36 A qualified endorsement will result in no liability of the indorser. True False
Answer | Explanation | |
33 | TRUE | It is a signed document that promises to pay the bearer a sum of money at a future date or on-demand. |
34 | FALSE | It is sufficient only to support a contract, but not to be a holder in due course |
35 | FALSE | It is for drawee-acceptor |
36 | FALSE | It will limit the liability of the indorser |
Get Answers For Free
Most questions answered within 1 hours.