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Chapter 22 Assessment Answers
Matching Key Terms
1. h 9. a
2. e 10. l
True/False Quiz
16. T 21. T
17. F 22. F
Discussion Questions
26. Commercial paper (negotiable instruments) are contracts, but they differ from ordinary
27. A promissory note is a written note or letter in which one person promises to pay a certain
29. The writer of a bad check can be charged with larceny. The law in most states allows the drawer
31. The benefits of using EFT, ATMs, and point-of-sale systems are that a card will likely replace
Thinking Critically About the Law
32. The banking system has already been simplified through the use of technology over the years.
34. Writing a postdated check provides an account holder with a convenient way of limiting when
Case Questions
36a. Y
37a. N
38a. N
39a. N
Case Analysis
40. Principle of law: To be negotiable, an instrument must contain an unconditional promise or
41. Principle of law: Postdated checks are negotiable.
42. Principle of law: Negotiable instruments must be unconditional.
43. Principle of law: To be negotiable, an instrument must (a) be in writing and signed by the
Legal Research
44. The Electronic Funds Transfer Act of 1979 establishes the rights, responsibilities, and liabilities
45. The following is a listing of preventative controls used by financial institutions to control
BONUS ACTIVITIES
