Answered: The drawee of a check is not liable on…

The drawee of a check is not liable on the instrument until the check is _______. a.) Accepted. b.) Rejected. c.) Dishonored. d.) Presented.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

The drawee of a check is not liable on the instrument until the check is _______.

a.)
Accepted.

b.)
Rejected.

c.)
Dishonored.

d.)
Presented.

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Similar questions

Individuals who believe they relied on misstated financial statements to make a decision andhave suffered losses as a result will issue an action known as aa. Breach of contract.b. Tort.c. Securities litigation.d. Constructive fraud.
Which of the following is NOT a duty owed by an agent to his/her principal? 1) Duty to Obey Instructions. 2) Duty of Care. 3) Duty to Retreat. 4) Duty to Provide Information.
Which of the following mistakes that does NOT render an agreement defective? A) identity of the party or parties B) identity of the subject matter C) terms of the contract D) existence of the subject matter
The proper remedy for the following cases is reformation of the instrument, except for one. Which is it? * If the true intention of the contracting parties is not expressed in the instrument purporting to embody the agreement by reason of mistake, fraud, inequitable conduct or accident. If the mutual mistake of the parties causes the failure of the instrument to disclose their real agreement. If mistake, fraud, inequitable conduct or accident has prevented the meeting of the minds of the contracting parties. If one party was mistaken and the other acted fraudulently or inequitably in such a way that the instrument does not show their true intention.
A note payable is in the form of Select one: a. a contingency that is reasonably likely to occur. b. an oral agreement. a standing agreement. C. d. a written promissory note. e. The answer does not exist Pr
None
Which of the following is an INCORRECT statement regarding a fully disclosed agency? OA. A fully disclosed principal is liable on a contract with the third party. OB. In a fully disclosed agency, the agent's signature must clearly indicate that he or she is acting as an agent for a specifically identifie OC. In a fully disclosed agency, the agent is not liable on the contract with the third party. OD. In a fully disclosed agency, the contract is between the agent and the third party. OE. In a fully disclosed agency, the third party typically relied on the principal's credit and reputation when the contract was made.
H received an indorsement from C. The indorsement was located at the back of the check. Upon inspection, H noticed that the check does not have a date. What is the effect to the negotiable instrument? A. The negotiable instrument is invalidated because the date signifies the maturity of the instrument B. The negotiable instrument is lacking a very important detail particularly the seal of the indorser C. The missing date does not affect the negotiability of instrument D. It is not the date which is important. It is the acceptance of the drawer for the indorsement made by C.
4. Which of the following statements about promissory notes is incorrect? a. Interest is the revenue to the maker of the note b. The party making the promise to pay is the debtor c. The party to whom payment is to be made is the creditor d. The maturity date of the note is the date when final payment of the note is due
42.What is "recourse" as it relates to transfer or sale of receivables? a. The obligation of the endorser/seller of the receivables to pay the endorsee/purchaser in case the debtor fails to pay. b. The obligation of the endorsee/purchaser of the receivables to pay the endorser/seller in case the debtor fails to pay. c. The obligation of the endorser/seller of the receivables to pay the endorsee/purchaser in case the debtor returns the product related to the sale. d. The obligation of the endorsee/purchaser of the receivables to pay the endorser/seller if all of the receivables are collected.
Under which of the following circumstances would a disclaimer of opinion not beappropriate?(1) The auditor is unable to determine the amounts associated with an employeefraud scheme.(2) Management does not provide reasonable justification for a change in accountingprinciples.(3) The client refuses the auditor permission to confirm certain accounts receivableor apply alternative procedures to verify their balances.(4) The chief executive officer is unwilling to sign the management representationletter.

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