Parties to a negotiable instrument who have liability for payment of the instrument are classified as either primary parties or secondary parties. Distinguish between primary parties and secondary parties
Primary parties are those who are first obligated to pay the instrument. Secondary parties are those who are legally obligated to pay the holder only after the primary party fails to do so.
You might also like to view...
Mrs. Smith is moving out of her personal residence to a smaller apartment. Because of this, she
wishes to sell her piano. George inspects her piano and decides to buy it. Mrs. Smith receives her money and tells George he can take the piano right now. George says he needs to borrow his friend's truck before he can remove the piano. That night, the piano is destroyed by fire. George sues to recover his money. Which best describes this situation? A) Mrs. Smith wins. The risk of loss passed to George when Mrs. Smith said he could take the piano. B) George wins. The risk of loss does not pass until George receives a negotiable warehouse receipt. C) Mrs. Smith wins. The risk of loss passed to George as soon as the contract was made. D) George wins. The risk of loss does not pass until George takes delivery of the piano.
Justine has a coaching session this morning with Sebastian. She wants to coach him on doing a more careful job when making a PowerPoint presentation. An effective tactic for Justine would be to
A) tell Sebastian to please listen for ten minutes before saying anything in the coaching session. B) explain to Sebastian that his recent PowerPoint presentation was wretched, and that anybody else in the department could have done a better job. C) point out a couple of specific errors Sebastian made in his recent PowerPoint presentation. D) accuse Sebastian of being careless and sloppy in his PowerPoint presentations.
When establishing funds, governments should never attempt to minimize the number of special revenue and other funds, instead using functional classification to record transaction detail.
Answer the following statement true (T) or false (F)
________ looks at how an organization does its work: activities pursued to accomplish specific objectives for specific customers.
A. Job analysis B. Job structure C. Market analysis D. Supply chain analysis