22. The initials "HDC" in negotiable instruments refers to:A - NothingB - Holder in Due CourseC - Holder in ConfidenceD - Holder in the Ordinary Course of Business23. The word "damages" refers to:A - The compensation due to a non-breaching party to receive anyfinancial loss caused by the breachB - The money received for payment on the contractC - The essential ingredient in every contract case in a court of lawD - A and C

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Answered: 22. The initials "HDC" in negotiable…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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4.Bryson issues a $5,000 negotiable check "payable to the order of Yolanda or cash." Yolanda places her signature on the back of the check. Yolanda then negotiates the check to Casey. Given these facts, which of the following is generally correct? а. The check was issued as a bearer instrument and Yolanda could not have converted it into an order instrument. b. Yolanda's indorsement on the instrument is not required in order for Casey to qualify or assert that he is a holder in due course. С. Yolanda's indorsement on the instrument is generally referred to as a special indorsement. d. Yolanda's indorsement on the instrument is required in order for Casey to qualify or assert that he is a holder in due course.
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Gemma promises a local hardware store that she will pay for a lawn mower that her brother is purchasing on credit if the brother fails to pay the debt. Must this promise be in writing to be enforceable? Why or why not?
Fiona, Celine and Donna have recently commenced a business together making custard pies using the name 'FCD's Custard Pies' as their trading name. They also sell coffee and soft drinks. Only Donna has put capital into the business, and no formal agreement exists between them. However, on many occasions Fiona has purchased stock for the business from their various suppliers by using her own money, and she has also set up an account with the suppliers in the name of 'FCD's Custard Pies'. Celine also has often placed orders on behalf of the business with their various suppliers for stock. 00:0 At their next meeting Fiona suggests selling alcoholic beverages. Donna likes the idea, but Celine does not. Celine says that such a change would require renovation of the shop, and also obtaining a licence to sell alcohol. This requires an application to the relevant government authority, which may reject the application. After giving it lots of thought, Donna decides to leave the business in two…
Commercial papers are also called monetary instruments. False True
is the issuer of the negotiable instruments." Drawer Holder Drawee Beneficiary
True /false The variation of transport cost by FOB, CFR /CIF brings more or less costs and changes the nature of the terms. Under FOB, insurance is an obligation for importer. DAT is only for sea or inland waterway transportation mode. Institute War/Strike Clause also have independent and complete structure, but can be covered separately only after agreement from the insurer according to ICC. Under FCA, a seller is responsible for loading and unloading cargo at any agreed delivery point. Under FOB, insurance is an obligation for importer.
Rachel has established a company which both her husband and herself are themembers of the company. The company is in a very difficult financial positionand it has unknown liabilities. She asks you to invest in the company which ithas RM2 issued capital currently. Would you buy shares in the company?Support your answer with reference to the provisions of the Companies Act,2016. Please give explaination base on Companies Act, 2016 according below Section. Section 43 Section 21
In relation to Consideration select the CORRECT statement:Select one:To be valid, the agreed price and the goods sold, must be of equal value.Consideration can be vague or illusory as long as it was communicated to the other partyConsideration is the exchange of something of value (a thing, a promise, money etc), given in return for something else of value (a thing, a promise, money etc)Consideration is not necessary to form a legally binding contractTo be valid, Consideration must involve payment of money, in return for something of value.
Wong engages Chen as his agent to sell his house. Wong's brother tells Chen that Wong will sell the house for $500.000. A purchaser offers to buy the house for $510.000. Chen tells the purchaser, I can accept that offer on behalf of my client The purchaser obtains a bank loan to buy the house. When Wong finds out what Chen has done he is furious and refuses to accept the proposed sale agreement. Which of the following statements is true: (A) Wong is bound to sell the house to the purchaser for $510,000. (B) Wong is not bound by Chen's acceptance' because he did not authorize Chen to make any sale agreement on his behalf. (C) Wong's brother authorized Chen to accept the offer and therefore Wong is bound to sell the house to the purchaser for $510,000. (D) Chen is entitled to apply to the court for an order of specific performance compelling Wong to complete the contract
A rented a car owned by B for 50$ going to Seoul. Under the condition the A will cover the expenses for gasoline and will return the car after 18 hours. When A was already in Seoul, A parked the car in the park. The car was lost. The car is 700$ worth. What are A's obligations now under the concept of simple loan or mutuum? Will A just pay 50$ or 700$ to B?Explain. What should be the responsibility of A in relation to the lost rented-vehicle?
The following situations generally require a contract to be in writing: • sales of land • purchases of goods over $500 • promises made in consideration of marriage ⚫ contracts that cannot be completed in less than one year • a contract in which one person promises to pay the debt of another person This legal concept is known as offer and acceptance promissory estoppel the statute of frauds et lux perpetua luceat eis

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22. The initials "HDC" in negotiable instruments refers to: A - Nothing B - Holder in Due Course C - Holder in Confidence D - Holder in the Ordinary Course of Business