Coron signs a blank piece of paper and delivers it to Puerto with the intention of making the instrument negotiable. a. Puerto can fill it up for any amount b. Puerto has implied authority to complete it c. a and b d. None of the above
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- A negotiable instrument can be indorsed by way of a restrictive indorsement, which prohibits further negotiation and constitutes the indorsee as agent of the indorser. As agent, the indorsee has the right, among others, to a. receive payment of the instrument. b. demand payment of the instrument only. c. notify the drawer of the payment of the instrument. d. instruct that payment be made to the drawee.A person who transfers a negotiable instrument to another for consideration warrants all but which of the following? Multiple Choice 235 42,678 That the instrument has not been altered. That he or she is unaware of insolvency proceedings against the maker, acceptor, or drawer of the instrument. That the instrument is not subject to be garnished. That the signatures on the instrument are authentic and authorized. FEB 21TRUE OR FALSE An instrument payable out of a contingency is not negotiable even if the contingency happened. The drawee in a promissory note must be named or otherwise indicated therein with reasonable certainty. An endorsement cannot be stricken out. A person who signed an instrument without indicating in what capacity he signs shall be considered an endorser. The defense that the instrument is undelivered and was completed without authority is a real defense.
- Which of the following indorsers expressly warrants in negotiating an instrument that 1) it is genuine and true; 2) he has a good title to it; 3) all prior parties have capacity to negotiate; and 4) it is valid and subsisting at the time of his indorsement? a. The irregular indorser. b. The general indorser. c. The regular indorser. d. The qualified indorser.A contract that only one of the parties can enforce in a court is not valid. True FalseListen When a person claims to have been deceived into signing a negotiable instrument by being told it is something else, the level of his or her intelligence may determine whether he or she should have understood the nature of the deal before signing. True Fals
- A owes B. B assigns the credit to C. B is in good faith. It was agreed that B would be responsible for A’s solvency. The parties did not agree on the duration of the liability. If the debt was due Jul. 6, 2019 and the assignment was made Aug. 8, 2019, until when is the guaranty? (See Art. 1629)Determine whether the statement is legally correct (true) or not (false). Even where the contract has not been reduced to the required form, it is still valid and binding as far as the parties are concernedWhat is one of the drawbacks of the parol evidence rule? It permits the acceptance of extrinsic evidence to determine the parties' intention. It is a basis for relieving parties from their contractual obligations. It results in contractual quantum meruit. It may prohibit parties from enforcing oral promises.
- Either party can choose to the contract in cases where both partiess to a contract are mistaken about either a current or a past material fact. O Refute O Confirm Rescind O Disclaim O UpholdA debt-collection agency can always contact a debtor at his or her place of employment. True False A fee simple absolute is an estate or interest in land with no limits in terms of disposition or duration. True False A lease of property for a prohibited use is unenforceable. True False A meeting of a federal agency must be open to public observation if the meeting involves matters relating to future litigation or rulemaking. True False A professional who is sanctioned by a court for fraudulent conduct cannot also be penalized by a state board of professional ethics. True FalseThe drawee of a check is not liable on the instrument until the check is _______. a.) Accepted. b.) Rejected. c.) Dishonored. d.) Presented.