How does an authorized representative's signature work for negotiable instruments?
What will be an ideal response?
A maker or drawer can appoint an agent to sign a negotiable instrument on his or her behalf. In such circumstances, the representative's signature binds the maker or drawer. A maker or drawer is liable on a negotiable instrument signed by an authorized agent. The agent is not personally liable on the negotiable instrument if his or her signature properly unambiguously discloses his or her agency status and the identity of the maker or drawer. In the case of an organization, the agent's signature is proper if the organization's name is preceded or followed by the name of the authorized agent.
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Well-stated objectives are
A. succinct and concise so as to identify the company's risk and return options. B. broad and take into account views of all the stakeholders. C. quantifiable or measurable, and contain deadlines for achievement. D. directly related to the dividend payout ratio for stockholder returns. E. representative of customers' aspirations for company performance.
In the build-up stage of a successful project, it is important that:
A) An adequate budget exists. B) Top management support exists. C) The project personnel are in a state of flux. D) There is a clear sense of earned value management.
The Tenth Amendment of the U.S. Constitution
A) defines the powers and limitations of the federal government. B) gives state law precedence over federal law. C) gives the federal government the power to tax state governments.? D) gives all citizens the right to bear arms.
Which of the following could test the occurrence assertion for payroll-related liabilities?
A. Compare items in accrued payroll taxes to the supporting payroll tax return. B. Search for unrecorded liabilities. C. Examine payroll tax returns to determine that the expense was recorded in the proper period. D. Review payroll liabilities for proper classification as short- or long-term.