|Question 1 Marks: 5 Ron signs an instrument using an R with a circle around it. With this mark for a signature, the instrument is?..Question 2 Marks: 5 Ann signs a promissory note payable to Bob on which Ann conspicuously notes that it is not negotiable and gives the note to Bob. This instrument is?..Question 3 Marks: 5 On behalf of Digital Supplies Company, Ed signs an instrument in which he promises to deliver 1,000 feet of cable to First Transactions, Inc., on March 1. This instrument is?..Question 4 Marks: 5 Eagle Corporation borrows $10 million from First Bank to build Grande Suites, an office complex. Eagle guarantees the payment of the loan with its notes. Eagle owns a certificate of deposit (CD) for $1 million, which is promised to pay Grande Suites employee medical claims. Before the loan is paid, Eagle files for bankruptcy, and the CD is returned. First Bank asks the court for the CD. Suppose that the loan guaranty is limited to negotiable instruments that relate to a business now or later conducted on the land. In this circumstance, under the reasoning in the case of In re Premier Interval Resorts, Inc., the court will most likely award the CD to?..Question 5 Marks: 5 Finest Business Company issues an instrument in favor of General Supplies, Inc. For the instrument to be negotiable, it need not?..Question 6 Marks: 5 Jack signs an instrument that states it is being executed in accord with a contract for the sale of three magic beans dated June 1. This instrument is?..Question 7 Marks: 5 To obtain office supplies for All-Care Medical Clinic, Britney executes a draft in favor of Chris. A draft is?..Question 8 Marks: 5 Rita owes $6,000 in unpaid taxes. In the sand of Seaside Beach, she executes an instrument for that amount that otherwise meets the requirements for negotiability. This instrument is likely?..Question 9 Marks: 5 Karen writes on a piece of paper, I owe you $600, signs it, and gives it to Lou. This instrument is?..Question 10 Marks: 5 Dave writes a check for $100 payable to Eve on his account at First State Bank. The bank is?..Question 11 Marks: 5 Bill signs a check payable to the order of City Bank, filling in the blanks for the amount with the figures $100 and One thousand and 00/100 dollars. This check is payable in the amount of?..Question 12 Marks: 5 Ben, the owner of Construction Contractors, Inc., signs an instrument that includes the phrase as per contract. This instrument is?..Question 13 Marks: 5 Alpha Company issues a trade acceptance with itself and Beta Company as parties. A trade acceptance is?..Question 14 Marks: 5 Ida executes an instrument in favor of Joy that states, The holder of this note at the date of maturity, July 1, 2007, can extend the time of payment indefinitely, if the holder so desires. After July 1, 2007, this instrument is?..Question 15 Marks: 5 On May 1, Doug signs a check that is payable to the order of Excel Credit Card Corporation and that is dated July 1. This check is?..Question 16 Marks: 5 Ray signs a promissory note for $10,000 in favor of State University (SU). The note does not specify the date of its payment. Ray defaults. In SUs suit to collect on the note, the court will most likely rule in favor of?..Question 17 Marks: 5 Eagle Corporation borrows $10 million from First Bank to build Grande Suites, an office complex. Eagle guarantees the payment of the loan with its notes. Eagle owns a certificate of deposit (CD) for $1 million, which is promised to pay Grande Suites employee medical claims. Before the loan is paid, Eagle files for bankruptcy, and the CD is returned. First Bank asks the court for the CD. Under the decision in the case of In re Premier Interval Resorts, Inc., the court will most likely award the CD to?..Question 18 Marks: 5 Dick buys a computer by executing a promissory note in favor of Excel Computers, Inc., is secured by Dicks stock in Fine Oil Company. The note is?..Question 19 Marks: 5 Pam signs an instrument payable to the order of Quick Credit, Inc., that allows a holder to demand payment of the entire amount due, with interest, if Pam fails to make a payment. This instrument is?..Question 20 Marks: 5 Kelly signs an instrument in favor of Leo that states it is subject to a certain agreement between Kelly and Mona. This instrument is?.. .——————————————————————————–|
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