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A restrictive indorsement specifies the purpose of the indorsement or the use to be made
of the paper.
Sam Wilson often goes to the horse races, participates in his state€s lottery, and invests
heavily in the stock of major U.S. companies. At work, Wilson is approached by his
coworkers and asked to participate in a football pool. "It's totally based upon skill," his
friends claim. In addition, Wilson's philanthropic club is holding a raffle in which an
individual could win a new car. Are these activities gambling and therefore illegal
activities?
Suretyship and guaranty transactions have the common feature of a promise to answer
for the debt or default of another.
An involuntary bankruptcy case is commenced by creditors filing a petition with a
bankruptcy court.
Freedom from economic domination is a personal right protected under United States
law.
A check is drawn on the assumption that the bank has sufficient funds in the drawer's
account for payment.
