Chapter 23 Assessment Answers
Matching Key Terms
1. o 9. j
2. h 10. m
True/False Quiz
16. F 21. T
Discussion Questions
29. Personal defenses against payment of commercial paper are lack of consideration, fraud, duress,
Thinking Critically About the Law
32. The requirement of delivery to a payee implicitly suggests that the drawer did not intend for the
Case Questions
37a. Y
38a. N
39a. Y
Case Analysis
40. Principle of law: A bearer instrument is payable to any holder.
41. Principle of law: Personal defenses cannot be used against a holder in due course. Fraud in
42. Principle of law: To be negotiable, the instrument must be payable to order or to bearer.
43. Principle of law: A postdated check is valid.
Legal Research
44. The bank has the obligation to refuse to cash a check drawn on an account, as well as to refuse
45. Although some students may find them, it is difficult to locate Web sites in which the form of
BONUS ACTIVITIES
Ask students to research a case regarding endorsements, particularly focusing on the five