List the warranties a transferor of a negotiable instrument makes
When someone transfers a negotiable instrument, he is deemed to make the following warranties:
? He is a holder of the instrument.
? All signatures are authentic and authorized.
? The instrument has not been altered.
? No defense can be asserted against the transferor.
? He has no knowledge of the issuer's insolvency.
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Zero, Inc purchased equipment at the beginning of 2011 for $200,000. Zero decided to depreciate the equipment over a 5-year period using the double-declining-balance method. Zero estimated the equipment's salvage value at $20,000. Which of the following statements is correct concerning Zero's financial statements at December 31, 2011?
A) The book value of the equipment is $120,000. B) The book value of the equipment is $80,000. C) The total accumulated depreciation is $90,000. D) Depreciation expense for 2011 is $72,000.
To avoid the legal perils of electronic communications, employees must be taught to:?
A) ?write loose messages. B) ?always write casual messages. C) ?delete all old messages. D) ?organize relevant messages.
Which of the following is NOT required to establish promissory estoppel?
a. a promise made by the defendant b. a promise made by the plaintiff in response to the defendant's promise c. reliance on the defendant's promise d. Enforcing the promise is the only way to avoid injustice.
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Indicate whether the statement is true or false