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48.
(p. 574)
For an instrument to be negotiable, the instrument must indicate that it was created for
the purpose of being ____.
49.
(p. 574)
When a specific payee is named in an instrument, the instrument is known as a[n] _____
instrument.
50.
(p. 575)
Negotiable instruments payable to whoever is bearing them are known as ______
instruments.
51.
(p. 570)
Which of the following is true regarding negotiable instruments as compared to
contracts?
52.
(p. 575)
Which of the following is true regarding Jack's claim that he had a negotiable instrument
and could collect from Molly?
53.
(p. 571)
Which of the following is true regarding Molly's assertion that Richard did not have a
negotiable instrument?
54.
(p. 573-574)
What is the effect of Molly agreeing to give Sam a DVD in return for the book?
55.
(p. 570)
Which of the following is true regarding the effect on negotiability of John's determination
that Paula did a poor job mowing the yard?
56.
(p. 571)
What is the effect of the instruments being written by hand?
57.
(p. 573)
Considering only the issue of terminology, not the issue of handwriting or whether Paula
properly performed, which of the following is true regarding whether the language "I, John Jones,
owe Paula Smith $50" is insufficient to establish elements required for a negotiable instrument?
58.
(p. 571)
Disregarding the issue of whether Paula properly performed, is the statement "I, John
Jones, promise to pay Paula Smith or to bearer, the sum of $100 on Monday, July 22, 2008,"
without a signature anywhere else on the document, sufficient to satisfy the signature
requirement of negotiability?
59.
(p. 570)
Which of the following is true regarding the instrument signed by Helen promising to pay
William a 10% commission if he sold her car?
60.
(p. 574-575)
Before Phil endorsed the check it was a[n] ______ instrument; and after he
endorsed it, the check was a[n] _____ instrument.
61.
(p. 575)
Which of the following is the most likely result if Phil attempts to require that the bank
reimburse him for the value of the check cashed by Helen?
62.
(p. 565-566)
What is the difference between a demand instrument and a time instrument?
63.
(p. 566)
Set forth the definition of a traveler's check.
64.
(p. 570)
Set forth the seven requirements for an instrument to be negotiable.
65.
(p. 575)
Set forth the two exceptions to the time-certain requirement for negotiability discussed in
the text.
66.
(p. 568-570)
Anne orally promises Judy that in return for Judy washing Anne's dog, Anne
unconditionally promises to pay Judy $50 the next Wednesday. Is a contract formed, is it
negotiable, and why or why not?
