If an instrument is nonnegotiable, the ________.
A. general rules of contract law control the rights and liabilities of the parties involved
B. general rules of tort law control the rights and liabilities of the parties involved
C. Uniform Commercial Code controls the rights, and the general rules of property law control liabilities of the parties involved
D. Uniform Commercial Code controls the rights, and the general rules of comparative law control the liabilities of the parties involved
Answer: A
You might also like to view...
Transformational leadership has been criticized for being elitist and anti-democratic, meaning ______.
A. it gives the impression that the leader is acting independently of followers B. the research supporting transformational leadership was completed only on high-level leaders C. followers have the most influence in the organization D. leaders only look to leaders in higher positions than themselves for help creating vision
Which of the following is NOT an important consideration in measuring risk for a capital
budgeting project for a well-diversified firm? A) contribution to firm risk B) systematic risk C) total project risk D) None of the aboveNall may be important in measuring project risk.
Clark Farms Inc. has the following data, and it follows the residual dividend model. Currently, it finances with 15% debt. Some Clark family members would like for the dividends to be increased. If Clark increased its debt ratio, which the firm's treasurer thinks is feasible, by how much could the dividend be increased, holding other things constant? Capital budget$4,500,000 Net income (NI)$5,000,000 % Debt now15% % Debt after change68% ?
A. $2,957,400 B. $2,718,900 C. $1,860,300 D. $2,385,000 E. $1,955,700
On January 1, 20X9, Pallet Company acquires 80 percent ownership in Slat Corporation for $200,000. The fair value of the noncontrolling interest at that time is determined to be $50,000. Slat reports net assets with a book value of $250,000 and fair value of $250,000. Pallet Company reports net assets with a book value of $600,000 and a fair value of $650,000 at that time, excluding its investment in Slat. What will be the amount of consolidated net assets that would be reported immediately after the combination?
A. $800,000 B. $850,000 C. $900,000 D. $680,000