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26.
(p. 564)
Documents used as payments to facilitate commercial transactions were labeled as
______ under article 3 of the UCC.
27.
(p. 576)
Which of the following is true regarding the status of negotiable instruments in regard to
international transactions?
28.
(p. 572)
Which of the following was the result in
State v. Warner
, the case in the text involving
whether an electronic transfer qualified as a "draft" or "other written statement" for purposes of
establishing a violation of state law?
29.
(p. 575)
What does the term "float" in banking reference?
30.
(p. 565)
With a[n] ______ instrument, the payee or subsequent holder can demand actual payment
at any time.
31.
(p. 566)
With a[n] ______ instrument, payment can be made only at a specific time designated in
the future.
32.
(p. 565-566)
The UCC defines an instrument "payable on demand" as one that ____.
33.
(p. 566)
Which of the following is a promise made by a bank to pay a payee a certain amount of
money at a future time?
34.
(p. 566)
A certificate of deposit is a ______ of the bank.
35.
(p. 566)
A ______ is a specific draft, drawn by the owner of a checking account, ordering the bank
to pay the payee from that drawer's account.
36.
(p. 566)
Which of the following is a draft with respect to which the drawer and drawee are the
same bank or branches of the same bank?
37.
(p. 566)
Which of the following is a check accepted by the bank on which it is drawn?
38.
(p. 571)
What two characteristics must a written document have in order to satisfy the
requirement that a negotiable instrument be in writing?
26-31
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McGraw-Hill Education.
39.
(p. 571)
Which of the following is
false
regarding the UCC's signature requirement for a negotiable
instrument?
40.
(p. 573)
Which of the following is true regarding the relationship between negotiability and an
unconditional promise or order to pay?
41.
(p. 571)
Which of the following is true regarding whether an agent's signature may satisfy the
requirement of negotiability that the signature of a maker or drawer appear?
42.
(p. 573)
Under the UCC which of the following statements is sufficient to make a promise or order
to pay conditional?
43.
(p. 573-574)
Which of the following is true regarding the type of currency needed to satisfy the
currency requirement for negotiability in this country?
44.
(p. 574)
Which of the following does not satisfy the requirement that to be negotiable an
instrument must be payable at a time certain or on demand?
45.
(p. 574)
When is a demand instrument, such as a check, payable?
46.
(p. 573)
Which of the following is true regarding an IOU instrument containing the language
"payable on demand"?
47.
(p. 574)
If an instrument is silent as to the time of payment, which of the following is assumed by
the UCC?
