Tom indorsed a check made payable to the order of Tom Jones as follows: Pay Raymond Berry /s/ Tom Jones Raymond negotiated the check to his landlord for his rent. Raymond indorsed the check as follows: Without Recourse /s/ Raymond Berry With regard to Tom's indorsement, which statement is correct?
a. Tom has secondary contractual liability on the check as an indorser.
b. Tom has no contractual liability on the check because he is the payee.
c. Tom has primary contractual liability on the check as payee.
d. Tom eliminated his liability as an indorser by the type of indorsement he used.
a
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The net present value method of evaluating proposed investments
a. measures a project's time-adjusted rate of return. b. discounts cash flows at the minimum desired rate of return. c. ignores cash flows beyond the payback period. d. applies only to mutually exclusive investment proposals.
If the modification of a lease contract increases the lease payment to $1,000 or more, the modification has to be in writing to be enforceable.
Answer the following statement true (T) or false (F)
In your first job with TBL Inc. your task is to consider a new project whose data are shown below. What is the project's Year 1 cash flow? Sales revenues$22,250 Depreciation$8,000 Other operating costs$12,000 Tax rate25.0%
A. $9,115 B. $9,397 C. $9,688 D. $9,978 E. $10,277
To raise capital to form Plasticity Corporation with Quinn, Rona sells bonds and stock in other companies, and plans to register an initial public offering under the Securities Act of 1933 . SEC Rule l0b-5 covers
a. most forms of securities. b. only bonds. c. only securities registered under the Securities Act of 1933. d. only stock.